1. The first Republic of Korea-Finland Economic Consultations took place in Helsinki, Finland, on June 29, local time, with Deputy Minister for Economic Affairs Lee Tae-ho and Under Secretary of State for External Economic Relations Matti Anttonen of the Foreign Ministries of the ROK and Finland leading their respective delegations.

2. In the bilateral Economic Consultations, which came after the fifth meeting of the Joint Committee on Science and Technology held in Helsinki on June 4, the two countries reviewed the progress in cooperation in overall economic areas. They agreed to step up cooperation in such areas as energy, start-up enterprises, information and communications technology (ICT), healthcare, defense industry, tourism, education and research, where synergy effects are expected from bilateral cooperation. Furthermore, they agreed to continue working together on climate change and other global issues.

◦ In particular, the Finnish side displayed keen interest in cooperating with the ROK in the fields of the fifth-generation network and the Internet of Things. Meanwhile, the ROK delegation expressed hope to work more closely with Finland in the latter country’s strong sectors of start-up enterprises and the Arctic.

3. In addition, with regard to the bilateral social security agreement, which is undergoing domestic procedures after its text was agreed upon, the two countries agreed to expedite its signing and thereby institutionally help their peoples engage in exchanges in a more convenient manner.


* unofficial translation