emirates7 - The Republic of Korea and the Czech Republic have reached an agreement to establish a high-level dialogue channel aimed at enhancing cooperation on economic and financial matters, according to Seoul's finance ministry.

This decision was made during a meeting on Friday in Prague between South Korea's Finance Minister Choi Sang-mok and his Czech counterpart Zbynek Stanjura. Minister Choi was in the Czech Republic accompanying President Yoon Suk Yeol on a four-day visit.

The new director-level economic dialogue channel will facilitate regular discussions on macroeconomic, finance, and fiscal issues, with the inaugural meeting scheduled for the first half of 2025, as stated by the Ministry of Finance and Economy.

Additionally, the two nations signed memorandums of understanding (MOUs) between their state financial institutions, which will enable the sharing of information about key infrastructure projects and provide tailored financial support for companies looking to invest in these initiatives in the Czech Republic.

The ministries also signed an MOU for the Economic Innovation Partnership Programme, committing to enhance policy cooperation in areas such as power systems, green energy, and other relevant sectors.