By Lee Jihae
President Moon Jae-in on July 15 held a summit with Israeli President Reuven Rivlin at Cheong Wa Dae on bilateral ties in the high-tech and startup sectors.
Saying both nations have a complementary economic cooperative system and the common goal of fostering high-tech industries, President Moon said the two sides have high potential for advancing bilateral ties.
"The ratification of a free trade agreement between Korea and Israel will significantly expand cooperation in trade, investment and the service sector," he added.
President Moon also mentioned the vibrancy of information and communication technology startups in Israel, saying the Korean government wants to learn from their success.
Rivlin said cooperation in startups will be good for both countries in helping them overcome the challenges imposed by the Fourth Industrial Revolution.