Industry Minister Ahn Duk-geun left for the Czech Republic on Wednesday as Seoul seeks closer bilateral economic ties, officials said. Ahn plans to meet his Czech counterpart, Jozef Sikela, and Czech Finance Minister Zbynek Stanjura to discuss exchanges and trade, according to the Ministry of Trade, Industry and Energy. During the visit, Ahn is expected to discuss ways to expand bilateral cooperation in nuclear energy, cutting-edge industries and infrastructure with Czech officials. The two countries are expected to agree on the details of a bilateral trade and investment promotion framework (TIPF) as well. A TIPF is a nonbinding agreement that calls for enhancing economic ties and facilitating cooperative exchanges in various areas. The agreement, however, does not include tariff-free terms like a traditional free trade agreement. The industry minister, meanwhile, is also widely expected to promote South Korea's nuclear reactors to the European nation. The Czech government earlier invited bids for its nuclear plant projects from South Korea's Korea Hydro and Nuclear Power Co. and France's EDF, with a final decision expected to be made in June. Source: Yonhap News Agency
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