By Publisher-Chairman Lee Kyung-sik, Editor Kevin Lee, reportorial team of The Korea Post
“Lithuania hopes to promote bilateral economic and business cooperation with Korea, especially in the fields of electronics, electrical parts, battery and others,” said Ambassador Ricardas Slepavicius of Lithuania in Seoul.
In an exclusive interview with The Korea Post media, publisher of 3 English and 2 Korean-language news publications since 1985, Ambassador Slepavicious said: “Lithuania is one of the best countries in Europe in doing business. Lithuania is a relatively small country in size, but she offers a big market as she is a gateway to advance into neighboring European countries, including Italy and Hungary.”
“Lithuania also provides foreign investors, including Korean businessmen, with a variety of incentives, including a 20-year corporate tax free arrangement,” he said.
Lithuania established its embassy on the sixth floor of Hotel Lotte in Seoul on Oct. 26, 2021.
Noting that he visited the Busan Jinhae Free Economic Zone on March 2, Ambassador Slepavicius said, “The visit was the first exchange between the Busan Jinhae Free Economic Zone and the Lithuanian Embassy in Korea. Both sides introduced free economic zones of Lithuania and Korea and shared success stories, discussing ways to exchange and cooperate in various ways.”
Ambassador Slepavicius mentioned the possibility of establishing a cooperative relationship between the Free Economic Zone in Lithuania's only port city of Klaipeda and the Busan Jinhae Free Economic Zone Administration.
Here is brief account of relations between Korea and Lithuania from the Ministry of Foreign Affairs of the Republic of Korea:
Establishment of Diplomatic Relations: October 14, 1991
Bilateral Trade (2022)
Exports: $385 million
Imports: $133 million
Bilateral Investment (-2022.9)
The ROK's Investment in Lithuania: $6.88 million
Lithuania's Investment in the ROK: $0.56 million
Number of Koreans living in Lithuania (2021): 26
High-level Exchanges from the ROK to Lithuania
1991 October: Delegation of the ROK including Ambassador Han Tahk-chae
2002 August: President of the ROK-Lithuania Friendship Association
2003 July: Vice-Speaker of the National Assembly Cho Boo-young
2005 July: President of the ROK-Lithuania Friendship Association Kim Hak-won
2009 April: Delegation of Members of the National Assembly, including Woo Jae-chang
2011 July: Speaker of the National Assembly Park Hee-tae
2014 February: Delegation of Members of the National Assembly, including Mr. Nam Kyung-pil
2015 November: President of Constitutional Court Park Han-chul
2017 September: Acting Chief of the Constitutional Court Kim Yi-su
2017 November: Delegation of Members of the National Assembly including Mr. Sim Jaekwon
2019 June: Speaker of the National Assembly Moon Hee-sang
From Lithuania to the ROK
1991 October: Prime Minister Vagnorius
1999 March: Minister of Foreign Affairs Saudargas
2000 October: Vice-Speaker of the National Assembly Juknevieiene
2004 July: Adviser to the Prime Minister Gudauskas
2006 April: Minister of Foreign Affairs Valionis
2010 February: Minister of Defense Juknevičiene
2012 March: President Grybauskaitė (To attend Seoul Nuclear Security Summit)
2014 February: President Grybauskaitė
2014 October: Speaker of the National Assembly Grauziniene
2015 May: Minister of Economy Gustas
2018 February: President Grybauskaitė (to attend Pyeongchang Olympic Games)
2018 September: Minister of Finance Vilius Šapoka
2022 October: Minister of Agriculture Kestutis Navickas
2023 January: Minister of Foreign Affairs Gabrielius Landsbergis
