Official name
REPUBLIC OF KOREA
Form of government
Republic
Capital
Seoul
Head of State
Moon Jae-in
Prime Minister
Chung Sye-Kyun
Minister of Foreign Affairs
Kang Kyung-wha
Date of establishment of bilateral relations
27 December 1989

Political relations

Relations between the Republic of Serbia and the Republic of Korea are good and friendly, and in recent years they have been characterized by the intensification of high-level political dialogue, as well as the improvement of overall, especially economic cooperation.

The then President of the National Assembly of the Republic of Serbia, Maja Gojković, paid a visit to Republic of Korea from 16 to 20 December 2019.

A delegation of the National Assembly of the Republic of Korea led by President Moon Hisang visited the Republic of Serbia from 13 to 15 October 2019, when, in addition to participating in the 141st Assembly of the Inter-Parliamentary Union, the President of the Korean Parliament paid an official bilateral visit to Serbia.

The Minister of Foreign Affairs of the Republic of Korea, Kang Kyung-wha, paid an official visit to the Republic of Serbia from 7 to 8 June 2019.

 

Economic relations

In 2020 the volume of trade between the two countries amounted to 238.48  million euros, of which exports from the Republic of Serbia amounted to 5.48 million euros, and imports from the Republic of Korea amounted to 233 million euros. In 2019, the volume of trade between the Republic of Serbia and the Republic of Korea amounted to 197.7 million euros, of which exports from Serbia amounted to 7.17 million euros, and imports from the Republic of Korea 190.530 euros.

Cooperation between the Republic of Serbia and the Republic of Korea in the field of investments has been on an upward trend in recent years.

The Korean Trade-Investment Promotion Agency (KOTRA) opened a representative office in Belgrade in December 2015.

The most significant Korean investment in the Republic of Serbia is the investment of the company YURA, which has opened four factories in Serbia (Rača Kragujevačka, Leskovac and two factories in Niš).

The company LS Group opened a factory for the production of cable installations in Zrenjanin in November 2018.

In Smederevska Palanka in May 2020, the cornerstone was laid for the construction of the production plant of the company Kyungshin Cable, for the production of parts for traditional cars, as well as components for electric batteries of high-tech cars.

 

Bilateral agreements

  • Agreement on the Establishment of Diplomatic Relations between the Socialist Federal Republic of Yugoslavia and the Republic of Korea, signed on 3 January 1990.
  • Agreement between the Council of Ministers of Serbia and Montenegro and the Government of the Republic of Korea on cooperation in the field of culture, arts and education, signed on 16 May 2006 (The Official Gazette of the Republic of Serbia, International Treaties No.38/9).
  • Agreement between the Republic of Serbia and the Republic of Korea on the avoidance of double taxation in relation to income taxes, signed on 22 January 2016 (The Official Gazette of the Republic of Serbia, International Treaties No.4/16).
  • Agreement on air traffic between the Government of the Republic of Serbia and the Government of the Republic of Korea, signed on 16 March 2016 (The Official Gazette of the Republic of Serbia, International Treaties No.6/16).

 

Contact information

The Embassy of the Republic of Serbia in Seoul: http://www.seoul.mfa.gov.rs.

The Embassy of the Republic of Korea in Belgrade: http://www.overseas.mofa.go.kr-sr/index.do.

Ministry of Foreign Affairs of the Republic of Serbia: Department for Asia, Australia and Pacific (DAAP); tel. 00 381 (0) 11 30 68 345; e-mail: odazap@mfa.rs.