Czech Republic and Korea (Rep.) signed a memorandum of understanding (MoU) on the Trade and Investment Promotion Framework (TIPF) on 20 September 2024.
The signing of the MoU came after 34 years of diplomatic relations between the two countries, which began in 1990. The MoU is expected to enhance economic cooperation through industrial and investment collaboration between the Czech Republic and Korea.
Unlike double taxation agreements (DTAs), the TIPF becomes effective upon signing and does not require parliamentary ratification.
