S. Korea: Strengthening Economic Ties with Central Europe

Korea has strengthened its economic ties Romania. A Korean delegation, including representatives from both government and the private sector, visted Romania from January 25 to 29.

Amongst others, the delegation consisted of officials from the Ministry of Trade, Industry and Energy (MOTIE), the Small and Medium Business Administration (SMBA), the Defense Acquisition Program Administration, the Korea Chamber of Commerce and Industry and from KLC, a shipping company.

The delegation took part in the seventh Korea-Romania industrial cooperation committee meeting. Both sides discussed collaboration on building an electronic trading system and a pumped-storage hydroelectricity power plant, as well as trade insurance, renewable energy, information technology and the defense, shipbuilding and steel industries.

During the talks, special attention was paid to difficulties in investment due to the reduction of renewable energy incentives (Samsung C&T Corporation), Rumanian government‟s non-fulfillment of public waters dredging (Daewoo Mangalia shipyard)

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Press Release, February 7, 2014