The results of Polish-Korean economic consultation in Seoul and development of trade and investment cooperation have been the main topics discussed at the meeting between Minister of Economy Waldemar Pawlak and his Korean counterpart, Lee Youn Ho. The talks were held on 8 July 2009 in Warsaw.

Deputy Prime Minister Pawlak pointed to the need for continuous economic cooperation between Poland and Korea. – We are happy about the results of the first Polish-Korean economic consultation. However, we can see the need for regular meetings of this type – he said. Pawlak also noted that Korea was an important economic partner of Poland. – For more than a dozen years, our trade has been increasing, to exceed 3.6 billion euros now – he noted.

The deputy head of the Polish government stressed that Poland had been willing to develop trade partnership and overcome barriers to the access of Polish food products to the Korean market. – Our products can enrich the Korean market in an attractive way – he argued. Pawlak expressed hopes that the six years' long process of admission of Polish poultry meat to the Korean market would eventually be completed. – We hope that our cooperation in this respect will be as fruitful as in the case of the automotive and electronic industries, and – in recent times – energy – he said.

Minister Lee Youn Ho emphasized that economic cooperation between Poland and Korea had the potential to dynamically develop in the future. – Poland is Korea's largest trading partner in Central Europe – he reminded. – Polish businesspeople have offered a broad range of products which differ from those available in our country – minister Youn Ho noted. – This is why they can enrich the Korean market and make it more attractive – he added.

In Deputy Prime Minister Pawlak's view, investment activities may also be an important element of Polish-Korean cooperation. The Deputy Prime Minister stressed that the Polish government had established good conditions for foreign investment. – The investors interested in developing business in Poland can use many investment incentives, including corporate tax exemption in special economic zones – he reassured. – Businesses may also successfully carry out R&D, and even be granted the status of an R&D Centre, if more than 20 percent of the company's profit is derived from this activity – he added.

Deputy Minister of Economy Marcin Korolec, who participated in the meeting, listed the areas of Polish-Korean investment cooperation Poland was particularly interested in. – We'll build an LNG terminal at Świnoujście, a nuclear plant, and purchase equipment for the Polish army – he said. The Deputy Minister also assessed the current cooperation with Korean investors.

Deputy Prime Minister Waldemar Pawlak also met the Korean Trade Minister, Kim Jong-hoon. During the conversation, Deputy Prime Minister Pawlak congratulated on the negotiations with the European Commission related to the free-trade agreement between the EU and Korea.

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The meeting between Deputy Prime Minister Waldemar Pawlak and Korean ministers for economy and trade were held during Korean President Lee Myung-bak's visit to Poland and the Polish-Korean Economic Forum in Warsaw.

Korea is Poland's second largest economic partner in Asia, following China. In 2008, Polish-Korean trade reached 3.6 billion euros, of which exports amounted to 213 million euros, and imports – 3.4 billion euros.

Poland's exports to Korea include machinery, vehicles, plastics and optical devices, while imports include electrical equipment, vehicles, base-metal and rubber products.

The largest Korean investors in Poland include LG Philips, LG Electronics, Daewoo Electronics, Samsung Electronics, Hanyang Precision, Hanglas/Saint Gobain, SK Chemicals, HIT Electronics, Dongyang Mechatronics, Koram Plastik.