Georgia open for Korean investments
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Georgia welcomes Korean investors to the country.
Economic and business relations between the two countries were in focus of today’s meeting between Georgia’s Prime Minister Giorgi Kvirikashvili and chairman of Korea's National Assembly Chung Ui-hwa in Tbilisi.
The Korean official is paying an official visit to Georgia to discuss the prospectives of deepening relations between the two states.
"Korea is ready to support Georgia and be its reliable partner in the international arena,” the Korean official told Prime Minister Kvirikashvili.
The Georgian leader thanked Ui-hwa for Korea’s assistance when Georgia’s capital was hit by a deadly flash flood last summer.
Kvirikashvili also welcomed Korean investments in Georgia and stress the importance of Korea's support, mentioning a major project currently under way using Korean assistance.
Korea’s national water company K Water is making a $1 billion USD investment to build the Nenskra Hydro-Electric Power Plant (HPP) in the upper Svaneti region in western Georgia.
Georgia’s education reform was also in focus at the meeting.
The parties also discussed possible ways to increase bilateral trade and agreed to depeen relations between Georgia and Korea.
Korea’s National Assembly fully supports Georgia’s development
"Georgia is God’s gift and I am looking forward to the time when Georgia and the Republic of Korea will work together.”
Italian industrial group Salini Impregilo is being offered the chance to handle a hydroelectric project in Georgia and contribute in developing the energy sector in the country.
Georgia and South Korea are stepping up bilateral cooperation to avoid double taxation, boost investments and increase economic cooperation.
Georgia’s Parliament Speaker David Usupashvili is on an official visit to South Korea to participate in high level political and economic events.
The first Korean Embassy in Georgia opened today in central Tbilisi, and will be celebrated tonight by Georgian and Korean officials at a special occasion.
South Korea is increasing its financial assistance to Georgia. The Korea International Cooperation Agency gifted Georgia’s Foreign Ministry computer equipment worth $100,000 USD (slightly less than 240,000 GEL).
South Korea’s largest multinational steel-making company POSCO is keen to invest $500 million dollars in Georgia to build a new metallurgical plant.
Companies of the Korea Importers Association (KOIMA) have expressed interest in importing Georgian products to the Republic of Korea, announced the Georgian Deputy Economy Minister Genadi Arveladze at the Korea-Georgia Business Forum held in Tbilisi today.
The first session of the Georgia-Korea Intergovernmental Economic Commission has been held to deepen economic ties to strengthen cooperation between Georgia and South Korea in fields such as trade, transport, logistics, energy, tourism, small and medium size businesses, start-ups, innovations and information and communication technologies, announced the Economy Ministry press office.