S. Korea, Poland sign 3 MOUs on trade, infrastructure, Ukraine reconstruction

▲ South Korean Industry Minister Lee Chang-yang (L) and Polish Minister of Economic Development and Technology Waldemar Buda (R) sign a memorandum of understanding on establishing a Trade and Investment Promotion Framework between the two countries at the presidential palace in Warsaw on July 13, 2023, as South Korean President Yoon Suk Yeol (L, back row) and Polish President Andrzej Duda watch. (Yonhap)

S Korea-Poland-MOUs

S. Korea, Poland sign 3 MOUs on trade, infrastructure, Ukraine reconstruction

By Lee Haye-ah

WARSAW, July 13 (Yonhap) -- South Korea and Poland on Thursday signed three memorandums of understanding (MOU) aimed at increasing cooperation in trade, infrastructure and reconstruction projects in Ukraine.

The MOUs were signed after a summit between South Korean President Yoon Suk Yeol and Polish President Andrzej Duda, on the occasion of Yoon's three-day official visit to the country.

The first MOU signed between South Korea's industry ministry and Poland's economic development ministry calls for a Trade and Investment Promotion Framework to promote cooperation on supply chains, develop joint business projects, remove trade barriers and increase exchanges among businesspeople, engineers and experts.

Poland is South Korea's biggest trade partner in Central Europe, with a large South Korean business presence by companies including Samsung Electronics Co., LG Electronics Inc. and LG Energy Solution Ltd.

The second MOU, signed between South Korea's land ministry and Poland's infrastructure ministry, calls for increasing cooperation on developing transport infrastructure in Poland and other parts of Central and Eastern Europe.

The third MOU, signed by South Korea's land ministry and Poland's point person in charge of overseeing the country's assistance for Ukraine, outlines measures to strengthen South Korea-Poland cooperation for reconstruction and development projects in Ukraine.

(END)

(C) Yonhap News Agency. All Rights Reserved