Describing South Korea as a strategic partner and an important component of India's "Look East" policy, Prime Minister Dr Manmohan Singh noted the two countries have a vibrant trade and investment relationship and further partnership in science and technology, education and energy holds enormous promise.
During his visit to Seoul, Singh is scheduled to hold talks with South Korean President Lee Myung-bak and leaders of some other countries. An agreement on simplifying issuance of visas between India and South Korea is expected to be signed after talks between Singh and Lee.
"I look forward to my bilateral meeting with President Lee to undertake a comprehensive review of our relations with the Republic of Korea, and identify new steps for the future," the prime minister said in the statement.
Singh would also seek to strengthen people-to-people contacts between the two countries, strengthen cooperation in the field of science and technology, and also coordinate the thinking on matters relating to regional security and international events.
The latest summit is being held in a charged atmosphere, with both 'renegade' countries North Korea and now Iran under heavy Western trade sanctions.
President Obama is likely to urge China to use its influence to curb the latest provocation by North Korea, which involves the country's announcement of plans to launch a satellite atop a long-range missile to honour the country's founder, the dictator Kim Il-sung.
The United States and the United Nations Security Council have condemned such satellite launchings in the past as a cover for developing the missiles, which could eventually be used to deliver nuclear weapons.