The Government of the Republic of Korea and the Government of the Democratic People's Republic of Algeria (hereinafter referred to as the "Contracting Parties"),

Wishing to intensify economic cooperation to the mutual benefit of both countries,

Desiring to create favourable conditions for investments of investors of one country in the territory of the other country, and

Recognizing that the encouragement and protection of investments on the basis of this Agreement stimulates business initiative in both countries,

Have agreed as follows: