Deputy Minister for Trade Yang Byeong-nae met with Lithuania’s Vice Foreign Affairs Minister Egidijus Meilūnas on March 19 in Seoul to discuss measures to widen bilateral trade, investment, and economic cooperation.



Noting the growth of bilateral exchanges and trade following the establishment of Lithuania’s diplomatic mission in Korea in 2021, Deputy Minister Yang proposed that the two countries make further effort to expand their collaboration with focus on advanced industries, in view of Lithuania’s world-leading technology in laser and bio.



The two sides agreed on the importance of R&D cooperation and decided to support business partnering and convene joint seminars to strengthen the two countries' corporate networking and stimulate joint R&D projects.



On the margins of the bilateral talks, Korea Institute for Advancement of Technology (KIAT) and Innovation Agency Lithuania entered a memorandum of understanding (MOU) for industry and technology cooperation to seek various measures to deepen and diversify their collaboration.