Outcome of 6th Meeting of ROK-Ireland Joint Economic Commission
1. The Republic of Korea-Ireland joint economic commission, a high-level consultative channel for economic diplomacy and cooperation between the two countries, held its sixth meeting in Dublin, Ireland, on February 14. The ROK and Irish head delegates to the meeting were Deputy Minister for Economic Affairs Lee Tae-ho of the Ministry of Foreign Affairs and Director-General of the Trade Division Eamonn McKee of the Department of Foreign Affairs and Trade, respectively.
2. At their joint commission meeting, the ROK and Ireland, an innovation powerhouse dubbed "Celtic Tigers," sought out future-oriented cooperation projects and discussed in depth ways to promote economic cooperation in diverse areas, including finance, bio, people-to-people exchanges and science. They agreed to boost exchanges in the field of fintech; to step up industrial cooperation through bio startups and clusters; and to raise the annual quota of participants in the bilateral working holiday program to 600 from the previous 400.
3. The two sides, taking note the significant contribution of the working holiday program to youth exchanges between the two countries, signed the revised bilateral Memorandum of Understanding (MOU) on Working Holiday Program, which calls for raising the annual quota of participants to 600 from the previous 400.
4. The two sides, expressing satisfaction with robust exchanges between higher education institutions of the two countries of late, agreed to increase the participation of English teachers from Ireland in English-language education programs in the ROK; to promote Korean studies at Irish universities; and to seek a revision to the bilateral MOU on educational cooperation.
5. On the sidelines of the joint commission meeting, Deputy Minister Lee held a working dinner with Korean residents and entrepreneurs in Ireland on February 13. On February 14, he met with Second Secretary-General of the EU Division Rory Montgomery of the Department of Foreign Affairs and Trade to exchange views on Brexit-related developments.
Source: Ministry of Foreign Affairs Republic of Korea