1. Representative Lee Sang-deuk, who visited Colombia after trips to Peru and Ecuador with the aim to 
help Korean firms enter the Latin American market, paid a courtesy call on President Alvaro Uribe Velez 
on June 15. During the courtesy call, he conveyed the Korean government’s willingness to promote 
friendly and cooperative ties between the two countries on the occasion of the 200th anniversary of 
Colombia’s independence and the 60th year after the start of the Korean War. The two sides then 
had a detailed discussion on ways to bolster substantive cooperation between their countries in a 
wide range of fields, including energy and resources development, and construction of plants and 
road infrastructure.

- Colombia is the only Latin American country that fought alongside Korea in the Korean War.

2. Rep. Lee explained that recent improvements in security and in the corporate and investment 
environment of Colombia have in effect started to lead to Korean firms’ investment in the country, 
and voiced his anticipation for Korean enterprises to participate in development of oil fields, 
modernization of refinery facilities and establishment of an intelligent transportation system.  
President Uribe, in response, hailed the increasing presence of Korean businesses in the 
country, adding that support will be extended to such firms.

3. The two sides agreed to lay the institutional groundwork for strengthened economic and trade 
cooperation between Korea and Colombia by expediting the conclusion of the ongoing negotiations 
on a Korea-Colombia FTA and the agreement on investment guarantee and another agreement on  
double-taxation avoidance, for the latter two of which the texts have been agreed upon.

4. Rep. Lee also had separate meetings with Hernan Martinez, Minister of Mines and Energy; Esteban 
Piedrahita, Director of the National Planning Agency; and Javier Gutierrez, CEO of Colombia’s state-run 
oil company Ecopetrol in efforts to support Korean firms’ bid to take part in resources and infrastructure 
sectors.

ο During a meeting with Ecopetrol CEO Gutierrez, a cooperation MOU was signed between Korea 
National Oil Corporation and Ecopetrol.

5. Later in the day, following the courtesy call on President Uribe, Rep. Lee Sang-deuk laid flowers at the 
Korean War Memorial and had a gathering with Korean War veterans to deliver a plaque of gratitude. Also, 
in a meeting with branch heads of Korean firms in the country, he heard about their business operations 
and offered words of encouragement.

                           Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation