Strengthening Technological Cooperation Between Serbia and South Korea: Focus on AI, Smart Mobility, Digital Transition...

Korean companies have already been investing in Eastern European countries, particularly in the automotive industry, electric vehicle battery production, and consumer electronics. However, as competition on the Eastern European markets intensifies, and Serbia stands out as a significant player in attracting investments due to its proactive investment policies, the signing of the Investment Protection Agreement is expected to provide a legal framework for promoting and safeguarding investments, further facilitating economic ties between Serbia and Korea, and opening the doors for diverse forms of cooperation.

Currently, 18 small and medium-sized Korean companies operate in Serbia, employing approximately 2,000 people, and Prime Minister Han Duck-soo expresses hope that a more diverse range of Korean companies will expand their presence in the Serbian market in the future, contributing to Serbia's economic development and the diversification of economic cooperation.

With regard to Prime Minister Han Duck-soo's statement that he sees Serbia as a hub for Korean companies looking to expand their operations in Europe, he highlights that the Investment Protection Agreement is a crucial step toward realizing that vision. To further promote bilateral investment and trade and establish Serbia as a hub for European markets, the next step would be the signing of the Economic Partnership Agreement (EPA), which is currently in progress.

Prime Minister Han Duck-soo also emphasized the importance of technological cooperation between the two countries, particularly in areas such as smart mobility, digital transition, and artificial intelligence (AI). Serbia is already active in the Global Partnership for Artificial Intelligence (GPAI), while South Korea has established a National Data Policy Committee, indicating opportunities for joint work and development in these fields. It is expected that the agreements and cooperation in these sectors will bring new innovations and economic opportunities for both countries.

Read the full interview with Prime Minister of the Republic of Korea on the following link.