Economic Relations between the Republic of Azerbaijan and the Republic of Korea 

On May 23, 1992 diplomatic relations between the two countries were established. In 1997 an Agreement on Business Cooperation and Business Promotion was signed between the Chamber of Commerce and Industry of the Republic of Azerbaijan and Korea Trade – Investment Promotion Agency (KOTRA).

Beginning from 1998, Korea International Cooperation Agency (KOICA) has been organizing training courses for Azerbaijani experts working in various spheres.

In May, 2000 a Korean delegations consisting of business people visited Baku . As a result of the visit, KOTRA decided to work on investment projects for Azerbaijan directing the companies associated with the Agency and interested in investing in Azerbaijan on a joint venture basis

On May 15, 2000 a meeting between business people of the Republic of Azerbaijan and the Republic of Korea was held in Baku .

On November 17-19, 2005 a Korean delegation headed by Kim Tae Yoo, Ambassador at Large of the Ministry of Foreign Affairs and Trade of the Republic of Korea visited Baku. During the visit an intention of exploring the Inam, Sharg and Alov oil fields of Azerbaijan and acquiring a share in these fields by Korea National Oil Corporation was expressed by the Korean delegation and consequent meetings were held with A. Asadov, assistant on economic affairs of the President of the Republic of Azerbaijan and N. Aliyev, president of State Oil Company of the Republic of Azerbaijan.

On November 29-30, 2005 E. Mammadyarov, Minister of Foreign Affairs of the Republic of Azerbaijan visited the Republic of Korea . On May 10-12, 2006, Roh Moo-hyun, President of the Republic of Korea was on an official visit in the Republic of Azerbaijan . Several official meetings were held and documents were signed during the visit. A Commission on Economic Cooperation is active between the Republic of Azerbaijan and the Republic of Korea . The first meeting of the commission was held in Baku on August 27 - September 2, 2006 and a Protocol was signed at the end of the meeting.

On February 14-17, 2007, a delegation of KOICA visited Azerbaijan and during the visit several assistance programs were presented by the Korean delegation at the Ministry of Communication and Information Technologies on 15 February, 2007, with the participation of representatives of various government bodies of the Republic of Azerbaijan .

On March 12, 2007, a meeting was held between R. Jamshidov, Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan in the Republic of Korea and Lee Jae Hoon, vice-minister of the Ministry of Commerce, Industry and Energy of the Republic of Korea .

On April 23-25, 2007, Ilham Aliyev, President of the Republic of Azerbaijan was on a state visit in Korea . Several official meetings were held during the visit and important documents were signed.

On August 26-29, 2007, the second meeting of the Economic Commission between the Republic of Azerbaijan and the Republic Korea was held in Baku Several big companies of the Republic of Korea including Hyundai, Samsung, LG, Daewoo, GS, STX are currently active in Azerbaijan . 

Trade Relations between Azerbaijan and Korea