SEOUL, July 14 (Yonhap) — South Korea and Latvia discussed ways Friday to strengthen relations in trade, investment and advanced industry sectors, Seoul’s industry ministry said.
First Vice Industry Minister Jang Young-jin met with Latvia’s economic minister, Ilze Indriksone, in Seoul and discussed how to boost bilateral trade, bio and other industry cooperation, according to the Ministry of Trade, Industry and Energy.
Jang said that South Korea has prowess in the biomanufacturing sector, and Latvia has global pharmaceutical companies, so there will be more business chances and room for greater cooperation in the field between the two sides.
Lativia has global pharmaceutical firms, such as Pharmidea and OlainFarm.
Several South Korean top tech firms, including Samsung Electronics Co. and LG Electronics Inc., have also been doing business in the Baltic nation, according to the ministry.
Latvia’s economic minister is in Seoul to attend the three-day bio exhibition Bioplus Interphex Korea 2023 that ends Friday.
On Thursday, the Latvian minister met with South Korea’s Science Minister Lee Jong-ho for talks on ways to work together on quantum technology, and major research and development projects.
During a separate meeting with Gyeonggi Province Governor Kim Dong-yeon, the two sides signed a memorandum of understanding that calls for enhanced cooperation in supporting their startups, smart mobility, digital transition and water resources management, the provincial government said.