- Discussions on Elevating the Bilateral Relationship to a "Comprehensive Strategic Partnership" and the Launch of the Korea-New Zealand Economic Security Dialogue

- Strengthening Economic Security Cooperation in Critical Sectors such as Space and Critical Minerals

1. On Thursday, February 20, Kim Hee-sang, Deputy Minister for Economic Affairs at the Ministry of Foreign Affairs of the Republic of Korea, co-chaired the 16th meeting of the Korea-New Zealand Joint Economic Committee in Wellington, New Zealand, with Grahame Morton, Deputy Secretary - Americas and Asia Group of the New Zealand Ministry of Foreign Affairs and Trade. The meeting served as a platform for in-depth discussions on bilateral economic cooperation, including trade and investment, as well as measures to enhance economic security cooperation.

2. During the meeting, both sides acknowledged that the Korea-New Zealand Free Trade Agreement (KNZFTA), which marks its 10th anniversary this year, has significantly contributed to bilateral trade by ensuring high market openness. Moreover, they committed to leveraging various platforms, including the Digital Economy Partnership Agreement (DEPA)—which Korea joined last year—to further enhance economic cooperation. Deputy Minister Kim also requested New Zealand's active support for the successful hosting of the APEC Economic Leaders' Meeting in Gyeongju this November.

3. Recognizing the increasing global economic uncertainty and the growing interlinkage between economy and security, both sides highlighted the heightened importance of international cooperation and coordination in economic security. As such, discussions focused on agriculture and fisheries, science and technology, energy security, and supply chain stability as key areas for strengthened cooperation. The two sides also discussed cooperation measures to expand people-to-people exchanges, including in tourism and education.

4. To bolster bilateral space cooperation, Deputy Minister Kim visited the University of Auckland's Space Institute and Rocket Lab on Wednesday, February 19, engaging in discussions on future collaboration. The visit aimed to explore opportunities for joint research and business initiatives in emerging industries.

※ Korea’s first mass-produced nanosatellite, “NEONSAT-1,” developed domestically, was launched in April 2024 aboard Rocket Lab’s Electron rocket.

5. On the occasion of the 16th meeting of the Korea-New Zealand Joint Economic Committee, the Korea-New Zealand Economic Security Dialogue (Director level)—which was agreed upon during the Korea-New Zealand Summit last year—was officially launched. The dialogue focused on concretizing cooperation in critical minerals and other economic security issues.

6. Deputy Minister Kim’s visit to New Zealand has laid a substantive foundation for the elevation of the bilateral relationship to a "Comprehensive Strategic Partnership," a key agreement reached during the Korea-New Zealand Summit in September 2024. The visit has also deepened practical economic and economic security cooperation between the two nations, marking a significant step forward in bilateral relations.