South Korea Sees Serbia as Ideal Hub for Expanding Business in Europe – Agreement on Mutual Encouragement and Protection of Investments Also Signed

Serbia is an ideal place as a hub for companies from Korea to expand their business in Europe, which will also open the possibility for Serbian companies to expand their business on the European continent, said the prime minister of South Korea, Han Duck-soo, at the meeting with the prime minister of Serbia, Ana Brnabic, in Seoul.

Brnabic pointed out that, when it comes to investment cooperation, there was still a lot of work to do and that the signing of the Agreement on mutual encouragement and protection of investments was therefore particularly important, as it would provide additional legal certainty and create a new impetus for attracting Korean investors in Serbia.

The prime ministers also welcomed the steps taken by the two sides to start negotiations on the Economic Partnership Agreement.

An agreement was reached and common will expressed for formal negotiations on this Agreement to be started, in accordance with the relevant national procedures.

It is expected that the Economic Partnership Agreement between the Republic of Serbia and the Republic of Korea, when concluded, will significantly contribute to the improvement of bilateral economic cooperation through the establishment of a free trade regime and additional strengthening of investment opportunities, according to the website of the Government of Serbia.

The two sides also started discussions on establishing a permanent dialogue in the field of innovative economy.

This regular dialogue mechanism will focus on four key areas – smart mobility, bioeconomy, digital transformation and new green energy technologies.

Vlada Republike Srbije

Government of the Republic of Korea

Ana Brnabic

Han Duck soo

Agreement on mutual encouragement and protection of investments of Serbia and South Korea

Economic Partnership Agreement of Serbia and South Korea

economic cooperation of Serbia and South Korea