The Government of Hong Kong, having been duly authorised to conclude this Agreement by the government of the sovereign state which is responsible for its foreign affairs and the Government of the Republic of Korea (hereinafter referred to as “the Contracting Parties”),

Desiring to create favourable conditions for greater investments by investors of one Contracting Party in the area of the other;

Recognising that an agreement on the encouragement and reciprocal protection of such investments will be conducive to the stimulation of individual business initiative and will increase prosperity in both areas;

Have agreed as follows: