Israeli envoy invites Korean firms to take part in infrastructure projects

The top Israeli envoy to Seoul hopes South Korean companies will actively participate in his country's infrastructure projects, such as gas field development, the finance ministry said Friday.

Ambassador Chaim Choshen met with Ko Hyoung-kwon, vice minister of strategy and finance, and discussed economic cooperation, according to the ministry. During the talks, the envoy also suggested cooperation between Israel's information-technology solutions with South Korea's auto manufacturers, as an example of synergistic effect, the ministry said.

South Korea`s Vice Finance Minister Ko Hyoung-kwon (L) meets with Israel`s Ambassador to Seoul, Chaim Choshen, at the ministry`s office in Sejong, south of Seoul, on Jan. 26, 2018, in this photo provided by the Ministry of Strategy and Finance. (Yonhap)

Ko emphasized the importance of concluding a bilateral free trade agreement to buttress bilateral trade and investment, and sought Choshen's support, the ministry said.

South Korea and Israel began FTA talks in May 2015 and followed up with five rounds of negotiations but have not yet been able to finalize the pact.

The ministry said the two officials agreed that their countries can become important economic partners, given the complementary nature of South Korea's strength in commercializing production, and technology, and Israel's innovative technology. (Yonhap)