1. The 2^nd Session of the Korea-Bulgaria Joint Economic Commission, attended by Deputy Minister for Economic Affairs Yun Kang-hyeon of the Ministry of Foreign Affairs of the Republic of Korea (ROK) and Deputy Minister of Economy Lachezar Borisov of the Republic of Bulgaria as head delegates, was held at the ROK Ministry of Foreign Affairs on Wednesday, September 11.

2. The Commission brought together about 40 participants including the ROK officials from the Ministry of Foreign Affairs, the Ministry of Trade, Industry and Energy and the Ministry of Land, Infrastructure and Transport as well as the Bulgarian officials from the Ministry of Economy, the Ministry of Energy, the Ministry of Defence, the Ministry of Transport, Information Technology and Communications, the Ministry of Agriculture, Food and Forestry, the Ministry of Foreign Affairs, the Ministry of Tourism, the State e-Government Agency and the Bulgarian Embassy in the ROK.

3. With next year marking the 30^th anniversary of the establishment of diplomatic relations between the ROK and Bulgaria, the two countries reviewed the progress in the follow-up measures to Prime Minister Lee Nak-yon’s official visit to Bulgaria in October 2017, and discussed concrete ways to step up cooperation in bilateral economic affairs.

4. In this vein, the two sides discussed issues of mutual interest such as increasing trade and investment; energy, transport and infrastructure; tourism, culture, education and people-to-people exchange; science and technology as well as information and communication technology (ICT); and cooperation in the defense industry.

○ The Bulgarian side requested that ROK companies further increase investments in Bulgaria. In response, the ROK side conveyed difficulties of certain ROK enterprises doing business in Bulgaria and called on Bulgaria to actively support the ROK companies.

○ The ROK side conveyed the ROK companies’ interest in energy and infrastructure projects in Bulgaria, and asked for Bulgaria’s cooperation. The two sides also discussed ways to strengthen cooperation in the energy sector.

○ Furthermore, the two sides held discussions on ways to boost people-to-people exchange in the areas of science and technology as well as to step up cultural cooperation. During discussions on the global trade environment, the ROK side explained its position on Japan’s export restrictive measures and asked for Bulgaria’s support.