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19 June, 2024
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KOGAS investment in Cyprus a 'new horizon' for economic ties

Ambassador Soosuk Lim said that the trade volume between South Korea and Cyprus has increased to 1.5 billion dollars in 2018

Newsroom / CNA

The Republic of Korea has been a steadfast and strong partner of the Republic of Cyprus’ efforts to reach a comprehensive settlement of the Cyprus issue, said Tuesday the country’s new ambassador, stationed in Athens, Soosuk Lim during a formal ceremony at the Presidential Palace.

Presenting his credentials to President of the Republic Nicos Anastasiades, the Ambassador said this year marks 24 years of diplomatic relations between the Republic of Korea and the Republic of Cyprus.

The major political concerns, respectively the Korean Peninsula issue and Cyprus problem have brought the two countries closer, based on the affinity out of same historical background of division and the common national vision for reunification, the ambassador said, adding that the two countries have also demonstrated solid cooperation in an international arena, sharing universal values of liberal democracy and human rights.

He said bilateral trade volume has increased by 25% for the past ten years from 1.2 billion dollars in 2009 to 1.5 billion dollars in 2018. The Korea Gas Corporation’s investment in the development of offshore natural resources in Cyprus is expected to open a new horizon for economic ties, the new ambassador said, while more Korean tourists find Cyprus as favourable travel destination.

The Korean Government has been making efforts to achieve the resolution of the North Korean nuclear issue and establishment of peace on the Korean Peninsula. The Panmunjeom Declaration after the first inter-Korean Summit on April 27, 2018 has laid out the framework agreement between the two Koreas: complete denuclearization, permanent peace regime on the Korean Peninsula and improvement of inter-Korean relations.

Despite some obstacles, said Soosuk Lim, the Korean Government remains committed to peace and prosperity of the Korean Peninsula and sought the continued unwavering support of Cyprus to Korea’s path for peace.

Soosuk Lim said the Republic of Korea has been a steadfast and strong partner of the Republic of Cyprus’ efforts to reach a comprehensive settlement of the Cyprus issue and in accordance with international Law and in line with the UN Charter and the relevant United Nations Resolutions.

Dr Han Sungjoo as Special Representative of the UN Secretary-General to Cyprus in 1996-1997 and Lieutenant General Whang Jin-ha as the Force Commander of the UN Peacekeeping Force in 2002-2003 are exemplary cases to that end. It is no exaggeration that Korea is in a unique position to cooperate with Cyprus to find a viable and lasting solution, as one of the only two divided countries in the world.

He also conveyed his readiness to deepen the bonds and foster amicable bilateral relations, including vibrant trade and mutually beneficial economic relations, firm cooperation in dealing with regional and global challenges, more frequent cultural and educational exchange, and advancing people to people exchanges. Thank you.”

Receiving the credentials, President Anastasiades said Cyprus and the Republic of Korea share a solid and cordial friendship based on common values of international peace, security, rule of law and respect of human rights. They also share the same belief in the resolution of international problems and conflicts through peaceful means. He expressed support to efforts to denuclearize the Korean Peninsula and assured that Cyprus attaches great importance, not only to the maintenance of regional peace and stability, but also to the safeguarding of security. At the same time, we encourage the continuation of the Inter-Korean reconciliation process.

President Anastasiades said bilateral relations are constantly growing in all fields, especially in the energy sector, noting the presence of the Korean company KOGAZ in the Exclusive Economic Zone of the Republic of Cyprus is a further proof of the enhancement and deepening of our ties

Moreover, Cyprus, as a member of the European Union, considers the Republic of Korea as a valuable and reliable partner in Asia, with an essential role in forging strong bonds between Asia and Europe by promoting regional cooperation and stability. In this regard, Cyprus will continue offering its support to Seoul for strengthening further its relations with the EU, he concluded.

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