1. The government of the Republic of Korea will send a special delegation, composed of Mr. Shim Jae-kwon (head delegate) and Mr. Kim Hyun-kwon, members of the National Assembly, to the inauguration ceremony of President of the Republic of Panama, Laurentino Cortizo, set to take place on July 1.

2. Panama, which shares with the Republic of Korea such universal values as democracy, market economy and human rights, is an important cooperative partner of the ROK in Central America. Since establishing diplomatic relations in 1962, the two countries have continued to expand and strengthen their cooperative relationship and, in particular, have maintained close cooperative ties in the sectors of economy, trade and infrastructure.

° Panama, the ROK’s top trading partner in Central America (2.2 billion USD in 2018), concluded the ROK-Central America FTA in February 2018.

3. The special delegation will hand to President Cortizo President Moon Jae-in’s letter, in which President Moon expresses hope to deepen and advance friendly and cooperative ties with the new Panamanian government.

* unofficial translation