Republike Slovenije
dr. Marjan Senjur l. r.
Za Vlado
Republike Koreje:
Hong Soon-young l. r.
The Government of the Republic of Slovenia and the Government of the Republic of Korea (hereinafter referred to as “the Contracting Parties“),
Desirous of developing and enhancing long term trade and economic cooperation based on equality and mutual benefit,
Convinced that this Agreement is an appropriate and stable foundation for substantial and harmonious development and diversification of trade and economic cooperation between the two countries,
have agreed as follows:
Article 1
1. The Contracting Parties shall promote, support and facilitate further development of trade and economic cooperation and encourage various forms of economic links between natural and juridical persons of the two countries, in accordance with their respective laws and regulations.
2. The Contracting Parties shall take all appropriate measures to encourage and facilitate economic and industrial cooperation between governmental agencies, organizations and enterprises of both countries.
Article 2
1. The Contracting Parties shall grant each other most-favored-nation treatment in all matters relating to trade, particularly with respect to:
a. customs duties and charges with similar effect imposed on or in connection with importation or exportation, including the method of levying such duties and charges;and
b. rules and formalities in connection with importation and exportation, including those relating to customs clearance, transit, warehouses and transshipment.
2. Each Contracting Party shall grant imports of goods originating from the territory of the other Contracting Party nondiscriminatory treatment as regards the application of quantitative restrictions and granting of licenses.
3. Each Contracting Party shall accord to imports of goods and services originating in the territory of the other Contracting Party most-favored-nation treatment with respect to the availability of and the access to the currency needed to pay for such imports.
4. The provisions of paragraphs 1 and 2 of this Article shall not apply to:
a. advantages which either of the Contracting Parties has granted or may grant to its neighboring countries to facilitate frontier traffic and trade; or
b. advantages which result from a customs union or a free trade area to which either of the Contracting Parties is or may hereafter become a party;or
c. advantages which either of the Contracting Parties has granted or may grant to any developing country under the General Agreement on Tariffs and Trade (GATT), the Agreements establishing the World Trade Organization (WTO) and other international agreements.
Article 3
The Contracting Parties shall endeavor to secure stable conditions for the development of economic cooperation between the two countries, especially in the field of trade as well as in industrial, scientific and technological areas.
Article 4
The Contracting Parties, within the framework of this Agreement, shall endeavor to:
a. examine the development of economic, industrial, scientific and technological cooperation between the two countries;
b. encourage arrangements for the further development of such cooperation and seek to identify new projects of cooperation in their respective countries and in third countries;
c. carry out reviews of the progress made in the fields of cooperation and make recommendations as to what action may be required in order to ensure that the objectives of this Agreement are achieved; and
d. consider any other matters arising from the implementation of this Agreement, which may be raised by either of the Contracting Parties.
Article 5
In view of the development of economic cooperation, the Contracting Parties shall encourage exchange of information of mutual interest, particularly information concerning their respective laws and regulations and economic programmes.
Article 6
1. All payments for goods and services between the two countries shall be made in freely convertible currency in compliance with laws and regulations applicable in the countries of the Contracting Parties and in accordance with prices and standard terms of the international market, unless otherwise agreed between the parties to commercial transactions.
2. Accounts within the framework of this Agreement may be settled in any internationally accepted way according to banking practices, based on mutual agreement among the parties involved and considering the laws and regulations of the Contracting Parties.
Article 7
Mutual supply of goods and rendering of services shall be based on contracts concluded between natural and juridical persons of the Contracting Parties, in accordance with valid regulations of the Contracting Parties and customary commercial practices regarding price, quality, delivery and terms of payment.
Article 8
1. Each Contracting Party undertakes not to export any commodity to the other Contracting Party at dumping or subsidized prices in a way that effects the domestic production of the other Contracting Party.
2. Such measures shall be taken in a way that is consistent with the relevant provisions of the Agreements establishing the World Trade Organization (WTO).
Article 9
1. The Contracting Parties shall, following international agreements and the laws and regulations of their respective countries, render each other assistance in organizing fairs, specialized exhibitions and publicity actions.
2. The Contracting Parties agree to exempt from customs duties and charges with similar effect, in accordance with their respective laws and regulations, the imports of:
a. promotional materials and free samples originating from the country of the other Contracting Party, as well as articles which are obtained in the country of the other Contracting Party at competitions, exhibitions and other festivities; and
b. goods for fairs and exhibitions, which are not intended for sale.
Article 10
1. The Contracting Parties shall recommend their natural and juridical persons to resolve any dispute in an amicable way.
2. The Contracting Parties shall encourage the adoption of arbitration for settlement of disputes arising from commercial transactions concluded between their natural and juridical persons.
3. Unless otherwise agreed between the parties to commercial transactions, the arbitration may take place in the country of either Contracting Party or in any other country which is a party to the United Nations Convention on Recognition and Enforcement of Foreign Arbitral Awards, concluded in New York on 10 June 1958.
4. The Contracting Parties shall recognize arbitral awards as binding and enforce them in accordance with the rules of procedure in the country where the awards are relied upon under the conditions laid down in the said Convention.
Article 11
1. For the purpose of implementing the objectives of this Agreement, the Contracting Parties may establish a Joint Committee composed of the representatives of both Contracting Parties.
2. The functions of the Joint Committee shall, in particular, include:
a. evaluating the implementation of this Agreement and submitting proposals on how to realize its aims;
b. ensuring the exchange of information concerning the changes of regulations of the Contracting Parties; and
c. examining other possibilities for economic cooperation between the Contracting Parties and proposing measures for the development of such cooperation.
Article 12
1. Either Contracting Party may establish a trade representation office in the territory of the other Contracting Party, with the aim of enhancing economic and trade relations between the Contracting Parties.
2. The rights and obligations of the trade representation office, as well as more detailed conditions for its operation, shall be agreed upon by both Contracting Parties in a separate agreement, taking into account the principle of reciprocity.
Article 13
1. This Agreement shall enter into force on the date when the Contracting Parties notify each other that all legal requirements for its entry into force have been fulfilled.
2. This Agreement shall remain in force for the period of five (5) years and shall be automatically renewed for successive period of five (5) years unless either Contracting Party notifies the other Contracting Party in writing of its intention to terminate this Agreement six (6) months in advance.
3. The modification or termination of this Agreement shall not affect the validity of contracts and arrangements concluded between natural and juridical persons of both countries during the period of the validity hereof.
Done in duplicate in Seoul on 21 January 1999, in the Slovenian, Korean and English languages, all texts being equally authentic. In case of differences in interpretation, the English text shall prevail.
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