4 July

Prime Minister Andrus Ansip hosted a parliamentary delegation from the Republic of Korea led by speaker Park Hee Tae at Stenbock House today. Discussions were held on opportunities for closer economic and cultural ties between Estonia and South Korea. The areas of greatest interest to both parties and with the greatest potential for growth were tourism, information technology, and logistics.

Prime Minister Ansip said that a lot could be done in Estonia and South Korea to promote the respective countries as attractive tourist destinations. One specific example he gave as a potential area for development in tourism was encouraging South Korean companies to look into ways of working with Tallinn Airport and the country’s national airline, Estonian Air.

Park Hee Tae expressed his hope that the free trade agreements that have recently come into force between Estonia and South Korea and between South Korea and the European Union would strengthen relations on all sides.

Trade ties between Estonia and South Korea to date have been modest. In 2010 the Asian nation was ranked 34th among Estonia’s foreign trade partners, with 21 million euros in goods being exported to the country and 15 million being imported in return.

Park Hee Tae is the highest ranking representative of South Korea ever to visit Estonia.