Korea, Taiwan rebuild economic ties

Korea and Taiwan on July 25 held their first economic cooperation meeting among private economic organizations since the severance of the bilateral diplomatic ties in 1992.

The Korean delegation was led by Hwang Doo-Yeon, president of the Korea Trade-Investment Promotion Agency. Gao Yishin, secretary general of CETRA, led the Taiwanese delegation in the day`s gathering.

KOTRA officials said that the expanded meeting for Korean-Taiwanese private-level economic cooperation was held at the International Trade Center in Taipei.

During the meeting, both sides agreed to restore the cooperative channel of private economic organization between the two countries, which was alienated following the severance of formal ties between Korea and Taiwan in August 1992. Also, they agreed to reestablish the Korean-Taiwanese private economic cooperation committee by the end of this year.