Lee and his party are expected to arrive at 2 p.m. aboard a Philippine Airlines flight.
Lee is on transit to Seoul after attending the state funeral of King Fahd of Saudi Arabia in Riyadh, but Mrs. Arroyo has declared his visit to be "official."
After the traditional welcome rites and courtesy call, Mrs. Arroyo will host an official dinner at Malacañang in honor of Lee and his eight-member delegation of South Korean officials.
Meanwhile, Speaker Jose de Venecia Jr. said yesterday South Korean President Roh Moo-Hyun will make a state visit to the country in December.
De Venecia said Lee’s arrival comes at a time when "fresh" South Korean investments in the Philippines have reached $1.4 billion.
"This is the first major and most powerful expression of large foreign investments in the Philippines since we have these political problems," he said. — Marichu Villanueva