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On 26 October, the Minister of Foreign Affairs of Lithuania Gabrielius Landsbergis met with Ahn Duk-geun, Minister for Trade of South Korea, who is visiting Lithuania.

The Foreign Ministers welcomed the successful bilateral political and economic cooperation and, in particular, the strengthening of economic ties thanks to the opening of Lithuania's Embassy in South Korea. The Lithuanian Foreign Minister called on South Korea to open its embassy and a trade representation in Vilnius. This would help to further strengthen bilateral relations and open up more opportunities for business.

“Lithuania strives for a strategic diversification, aiming to strengthen political and economic relations with like-minded Indo-Pacific countries. Thus, we see South Korea as a very important partner,” Landsbergis said.

The meeting focused on opportunities for cooperation in high added-value areas, such as life sciences, lasers, semiconductors, information and communication technology. The South Korean Minister of Trade informed that Lithuanian and South Korean businesses were likely to establish new partnerships in the fields of energy, life sciences, electronics and forestry in the near future. The South Korean delegation also presented Busan's bid for World Expo 2030.

The Foreign Ministers also discussed support for Ukraine and its fight against Russia's aggression, geopolitical processes in Europe and the Indo-Pacific region.

On 17 August 2022, the Economic Diplomacy Council approved priority export, investment and inbound tourism markets, including the Republic of Korea. In 2021, trade in goods between Lithuania and South Korea grew by 39 per cent, reaching EUR 173.6 million, of which exports to this country amounted to EUR 105.7 million. This year has also seen positive export dynamics. During January-August of this year, exports to the Republic of Korea grew by 20 % (from EUR 68 million to EUR 81 million), compared to the same period last year.