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ROK-Israel Ministers Explore Joint Ventures in Startups, Science and Technology
Strengthening Technological Collaboration
In an enlightening meeting held in Seoul, the Foreign Ministers of the Republic of Korea (ROK) and Israel explored avenues for deepening bilateral relations, with a specific focus on collaboration in startups, science, and technology. This is a timely engagement, considering Israel’s prominent global position in the IT industry, with the highest number of IT entrepreneurs per capita and holding the second rank globally in terms of R&D expenditure. Israel invests approximately 4.1% of its GDP in research and development, notably higher than the OECD average of 2%.
Future Plans and Economic Cooperation
The talks led to an acknowledgment of the significant cooperation developed between the two countries since the establishment of diplomatic ties in 1962. The Foreign Ministers also expressed their mutual desire to further their economic cooperation, building upon the bilateral free trade agreement that was ratified the previous year.
Park Jin displayed enthusiasm for increased collaboration in the fields of startups and science technology, while Cohen emphasized the potential to harness synergy between South Korea’s superior manufacturing abilities and Israel’s avant-garde technologies.
Visa Waiver Program and Enhanced Bilateral Ties
A detailed discussion took place on Wednesday in Seoul between South Korea’s Foreign Minister Park Jin and his Israeli counterpart, Eli Cohen, to deliberate on mechanisms to bolster bilateral bonds in trade, science technology, and startups, according to a statement from Seoul’s foreign ministry.
Beyond the realm of technological cooperation, a significant development has been the consensus on a visa waiver program between the two nations. Under this new agreement, Israeli citizens can now enter South Korea without a visa by obtaining the ETA South Korea online. This remarkable initiative is seen as a substantial stride in fortifying bilateral relations, creating a conducive atmosphere for mutual growth in innovation, and collaboration in the startups, science, and technology sectors.
The meeting signifies a shared vision to drive global technological leadership and builds on the existing links between the two nations, aiming to create a more prosperous future.
