1. Mr. Hwang Doo-yun, Minister for Trade of the Republic of Korea and Mr. Jari Vilen, Minister for Foreign 
Trade of the Republic of Finland, will have Korea-Finland Trade Ministers Talks and discuss ways to enhance 
the cooperative trade and economic relations between the two countries, the leading countries in the IT field.

 
2. Minister Vilen is currently visiting Korea on the occasion of the Finnish President Tarja Kaarina Holenan's 
visit to Korea. The Finnish high-level economic mission and the Federation of Korean Industries will hold the 
12th Joint Conference of the Korea-Finland Business Council on April 9, 2002.

 
3. Discussions between the two Ministers on ways to expand bilateral trade will be based on the 
experiences of successful investments made by Finnish companies in Korea, including that of Nokia, the 
world's largest handphone manufacturer. The two sides will also discuss issues of expanding cooperation 
between Korea and the EU related to the WTO and will try to find ways to respond to import restriction 
measures on steel products.

 
4. In 2000, bilateral trade between Korea and Finland reached US$ 1 billion and in 2001, US$ 0.9 billion. 
Finland's current aggregate volume of investment in Korea is worth US$ 51.2 million (35 investment projects). 
Nokia has recorded total exports worth US$ 2.7 billion and in Korea it has ranked 1st among foreign 
companies investing in Korea in terms of sales.

                                                               Spokesperson of MOFAT

* unofficial translation