Korea-Austria Elevated to Strategic Partnership... "Economic and Cultural Cooperation to a Higher Level"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] During his state visit to Austria, President Moon Jae-in held talks with Chancellor Sebastian Kurz on the 14th (local time) and agreed to elevate bilateral relations to a "Strategic Partnership."

President Moon and Chancellor Kurz evaluated that the two countries have steadily developed a friendly cooperative relationship based on mutual trust and shared values over the past 129 years, and reached this agreement.

Under the common recognition that South Korea and Austria are future-oriented cooperative partners, both sides agreed to deepen and advance their cooperation to a higher level in various fields including politics, economy, science and technology, culture, and arts.

On the occasion of this state visit, based on the signed "Cultural Cooperation Agreement" and "Youth Exchange Implementation Agreement," they agreed to expand cooperation in the fields of culture, arts, and youth, and to promote investment expansion and economic cooperation between the two countries through the conclusion of the "Second Protocol to the Double Taxation Avoidance Agreement."

In particular, both countries shared the recognition that they are important partners in responding to climate change and agreed to closely cooperate to continuously contribute to the international community's efforts on climate and environment.

They also exchanged views on the situation on the Korean Peninsula, and President Moon expressed gratitude for Austria, a leading country in nuclear non-proliferation, for consistently supporting the South Korean government's efforts to establish lasting peace on the Korean Peninsula.

After the talks, the Cultural Cooperation Agreement and the Second Protocol to the Double Taxation Avoidance Agreement were signed in the presence of President Moon and Chancellor Kurz.