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Taiwan, South Korea negotiate agreement on double taxation avoidance

2017/09/19 21:41:57

Taipei, Sept. 19 (CNA) An official of the Korean Mission in Taipei said Tuesday that South Korea and Taiwan have enjoyed close exchanges in recent years and that the two sides are now negotiating an agreement on the avoidance of double taxation to further boost bilateral trade.

Speaking to CNA after a Taiwan-South Korea cultural and economic exchange meeting held in Taipei, Deputy Representative of Korean Mission in Taipei Park Kijun expressed hope that the pact can be finalized as soon as possible.

Taiwan and South Korea are already important trade partners, and the two sides should seek ways to cooperate more with each other, Park said, pointing out that his country is currently Taiwan's fifth-largest trading partner, while Taiwan is South Korea's sixth-largest.

He also noted that the two sides could further collaborate in the field of electronics and the environmental protection industry.

According to Park, the number of South Korean visitors to Taiwan reached more than 860,000 last year, a figure that will likely exceed 1 million this year.

He added that his government also hopes to see visitors from Taiwan to South Korea break the 1 million mark this year, he said.

(By Elaine Hou and Ko Lin)