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Nepal-Republic of Korea Relations Diplomatic relations between Nepal and the Republic of Korea were established in Counselor level in 1969 and was upgraded to Ambassadorial level in 1974. The Republic of Korea opened its Embassy in Kathmandu in 1974. The Government of Nepal has established its Embassy in Seoul in march 2007 . Nepal and South Korea have been enjoying very good understanding, goodwill and friendship. In 2004, Nepal and the Republic of Korea celebrated the 30th anniversary of the establishment of diplomatic relations. The Foreign Ministers of Nepal and the RoK exchanged messages on the occasion. Deputy Foreign Minister of the RoK H.E. Mr Cho Young-jai visited Nepal as Congratulatory Envoy of the Republic of Korea in May 2004. Nepal-ROK Cooperation There have been exchanges of visits in different level between Nepal and the Republic of Korea in recent years. Those visits have been instrumental in enhancing the bilateral cooperation as well as in widening the understanding between the people of the both countries. The Republic of Korea is increasingly becoming an important and reliable partner in Nepal's economic development. Construction, sericulture development, hydropower development, Road and infrastructure development, health Science, e-governance are some of the major areas supported by the Government of Korea to Nepal in the past. Korea also has assisted Nepal with soft loan through the Economic Cooperation Fund of Govt. of Korea. ROK is providing various support to Nepal also through the Korea International Cooperation Agency (KOICA) mostly in . technical fields in various areas. Both the Governments have encouraged respective private sectors to set up joint ventures in different areas. Electronics, hotel industry, chemical industry, medicinal goods, mineral water are some of the examples in this field. Currently, there are 21 operating, 1 under construction, 6 licensed and 28 approved joint ventures initiated between Nepal and Korea. Trade and Tourism However, the trade volume between Nepal and the Republic of Korea is increasing over the years; the balance of trade is heavily in favour of Korea. The total trade volume between Nepal and the Republic of Korea in the year 2009/2010 stands at US Dollar 74 million. Nepal has been one of the most favored tourist destinations for Korean people mostly in adventure tourism. In 2004, 2005 and 2006, tourists arrival in Nepal from the RoK were 3189, 5475 and 7,002 respectively, which is around 2.0 per cent of the total tourist arrival in Nepal on respective years. "In the latter years, the number of South Korean tourists visiting Nepal has significantly increased. According to the statistics, the number has gone up to 16,145 in 2009 and 20,332 in 2010 which was just 7000 in 2006." Training and Manpower Supply The RoK has extended its cooperation in providing training to Nepali trainees under Industrial Training Scheme. In the beginning, the annual number of trainees was little over 1700. Since 2003, this number was increased gradually till the year 2005 and has been substantially decreased after the abolition of the system in December 2006. A few training opportunities are also available from the RoK for Nepalese nationals in different disciplines such as agriculture, community development, and public works. In July, 2007 Nepal and Korea have signed a MOU under the Employment Permit System (EPS) that allows Nepali worker to go to work in Korea under the agreed guidelines to be implemented by the Governments of the both countries. The MOU facilitates all Nepali workers with guaranteed facilities and other social securities. Both side believe that the Employment permit system will streamline the process of recruitment and employment of Nepali workers in Korea in a fair and transparent manner and will also help provide all kinds of social security while at work at par to its own nationals. Volunteer Services Under the agreement signed between the Government of Nepal and the Government of the RoK in January 1992, KOICA (Korea International Co-operation Agency) has opened its office in Nepal. Since then, KOICA has been dispatching middle level technical personnel to work as volunteers in various areas Nepal. Other Issues Both countries have concluded an agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to taxes on Income, both countries have also agreed to form a Nepal-Korea International and Cooperation Committee of Industrialists and Businessmen. Both the government have signed a unified Air Services Agreement (ASA). As a result of this understanding the Korean Air has already started its flights in the Seoul-Kathmandu-Seoul sector every week. There is a heavy demand of costumers to increase the flight at least to the tune of three flights per week. Both the Government have concluded a Cultural Agreement on 30 March 2005. The cultural agreement envisages promoting and developing the cooperation between the two countries in the field of culture, art, education, youths, sports and tourism. The Foreign Ministries of Nepal and the RoK have agreed to establish the consultation mechanism between two countries from October 2001. The next meeting of the mechanism is expected to be held in the year 2007. Both sides have also agreed to hold the meetings of the mechanism at the Joint-Secretary Level of the Ministry of Foreign Affairs of the two Governments. Republic of Korea has been associated as Observers to SAARC. It is believed that Korea's association will not only expand its linkages with the region but also and help its economic integration with member countries as well. |
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