U.S. President Barack Obama visits Korea on Wednesday for the first time since his inauguration.

He will meet with President Lee Myung-bak in a summit Thursday morning and the two leaders are likely to discuss ways to discourage North Korea's nuclear ambitions and other issues.

The visiting U.S. president is expected to give his support to the principle of the "grand bargain" to solve the North Korean nuclear issue, proposed by Lee during his visit to the U.S. in September.

Lee and Obama will also share views on how to fast-track ratification of the Korea-U.S. free trade agreement in both countries which has been put on hold since negotiations concluded in 2007.