Costa Rica and South Korea on Monday signed a memorandum of understanding to set up political consultations, the Cost Rican Foreign Ministry said.

The agreement was signed by Costa Rican Foreign Minister Bruno Stagno and the South Korean Ambassador Cho Byoung-lip. The first political meeting is set for June 8 in Costa Rica's capital, San Jose.

The agreement created the legal framework for signing new political agreements between the two nations, who established diplomatic relations in 1962, Stagno said.

Stagno described South Korea as a friend and an ally, who will help Cost Rica strengthen its relations with Asia. Costa Rica plans to open embassies in Singapore and India.

He added that Costa Rica also hopes to join the Asia Pacific Economic Cooperation forum.

Cho described Monday's agreement as the first step toward a series of meetings, which will prioritize mutual development and closer inter-governmental relations.

"It is the first time this mechanism has been set up on a continuous basis and it will boost cooperation and friendship between the two nations," Cho said.

Source: Xinhua