1. Second Vice Minister of Foreign Affairs Cho Tae-yul met with Undersecretary of State Tadeusz Koscinski of the Ministry of Development of Poland on February 2. In the meeting, Second Vice Minister Cho requested the Polish government’s active support and cooperation to help Korean companies make new investments without difficulties and to resolve investment-related problems faced by Korean companies. The two sides also discussed expansion of investment, innovation, and ways to increase cooperation on e-government.

2. Vice Minister Cho stressed that about 160 Korean companies doing business in Poland, a bridgehead for exporting to Central Europe, are creating some 20,000 jobs in the country by making investments worth around 1.8 billion dollars. Regarding new investments being pursued by Korean companies, Vice Minister Cho requested that the Ministry of Development of Poland, which handles investment-related issues, give attention and support. Vice Minister Cho also asked the Ministry of Development to actively work to solve difficulties faced by Korean companies, including by extending the period of corporate tax exemption for Korean companies doing business in the Polish Special Economic Zones.

o In response, Undersecretary of State Koscinski said that with the launch of the new government in Poland in November last year, the country has made attracting foreign direct investment one of its top policy priorities, and that Poland will provide possible support to Korean companies.

3. Stating that the Polish government will focus not only on attracting foreign direct investment, but also on implementing e-government, Undersecretary of State Koscinski hoped to see cooperation with the ROK in the area. Vice Minister Cho said that the ROK will explore concrete ways for cooperation in consultation with relevant agencies.

4. The two sides noted with appreciation that the ROK-Poland Joint Economic Committee is being operated smoothly as a major institutional framework to strengthen economic cooperation between the two countries. The two sides agreed to hold the fourth meeting of the Joint Economic Committee in the second half of this year.

o As the ROK government is actively pursuing creative economy and Poland, which has a lot of interest in innovation and investment in R&D, is also very much willing to enhance cooperation with the ROK in the areas, the two sides agreed to further strengthen cooperation in the areas.

5. The Foreign Ministry will continue to implement economic projects agreed upon at the ROK-Visegrad Group summit in December last year and at the ROK-Poland summit, held on the sidelines of the ROK-Visegrad Group summit, as well as increase activities for economic diplomacy to help Korean companies increase their presence overseas and resolve difficulties faced by the companies.


* unofficial translation