The statue of Shanghai World Expo's mascot, named Haibao, was unveiled in South Korea's capital city Seoul on Tuesday, as part of worldwide promotions for the upcoming six-month event.

Chen Xianjin, deputy director general of the Bureau of Shanghai World Expo Coordination, said in the unveiling ceremony that he believed that Haibao, literally means "treasure of the world", will act as a friendship envoy by building a bridge between the peoples of China and South Korea to promote mutual understanding, communication and cooperation.

Moreover, as South Korea will also host a similar expo titled " The Living Ocean and Coast" in 2012 in its southern city of Yeosu, the two events in the two neighbors will deepen cooperation between the two countries, Chen said.

On his part, Oh Young-ho, vice chairman of the (South) Korea International Trade Association (KITA), said since establishing diplomatic ties in 1992, China and South Korea have developed an exemplary win-win model in terms of political, social, and cultural issues, both in quantity and quality.

Haibao, in the shape of Chinese character REN, or human beings, which seem as if one stroke leans on the other, symbolized real friends, who help each other for a synergy effect, just like China and S. Korea, Oh said.

South Korea plans to set up two pavilions during the international fair, Oh said. Apart from its national pavilion, the country also set up a corporate pavilion, with a theme of "Green City, Green Life", and plans to house 12 local companies including Samsung Electronics, Hyundai Motor, LG, SK, and POSCO, he added.

Oh also promised the KITA, responsible for organization and coordination issues of the corporate pavilion, will do its best to make the Shanghai EXPO known to as many South Korean firms and people as possible, and all the more drawing them to the EXPO.

The expo, titled "Better City, Better Life" and runs May 1 to October 31, is expected to draw 70 million visitors, an average of 400,000 a day.

The number of countries, regions and international organizations committed to attending the expo has reached 242 so far, surpassing the previous record held by Hanover, Germany, in 2000.

It was the first time for the event to be held in a developing country since the inaugural fair in London in 1851. Shanghai won its bid for the expo in December 2002.