The Government of the Republic of Korea and the Government of the Czech Republic (hereinafter referred to as the "Contracting Parties"),

Desiring to develop the economic cooperation of both States on the basis of equality and mutual benefit, Preoccupied to encourage and create favourable conditions for investments of investors of one State in the territory of the other State 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: