The Government of the Czech Republic and the Government of the Democratic People's Republic of Korea (hereinafter referred to as the Contracting Parties);

Desiring to develop economic cooperation to the mutual benefit of both countries;

Intending to create and maintain favorable conditions for investments of investors of one Contracting Party in the territory of the other Contracting Party, and

Conscious that the promotion and reciprocal protection of investments, according to the present Agreement, stimulates the business initiatives in this field,

have agreed as follows: