SEOUL - South Korean President Lee Myung-bak on Thursday met with Jeffrey Immelt, the chairman and chief executive of General Electric Co., and discussed various issues ranging from the current global economic situation to the US company's investment plans in South Korea, the presidential office said.

Lee recognized the GE's leading role in green energy and future industries where South Korea is expanding investment, and encouraged the company to have more opportunities for cooperation with South Korean companies, according to a statement from the presidential office.

Immelt said that GE plans to step up cooperation with South Korea in the research and development sector.

He also said that the ratification of a free trade agreement between South Korea and the United States, which went into force this March, was a good thing to do.

Lee said the trade deal would benefit businesses of both countries if they take good advantage of it, according to the statement.