Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
- Shay pLv 77 years agoFavorite Answer
Israel opened its embassy in Seoul in April 1968. Israel aided South Korea in establishing infrastructure in areas of agriculture, water, and security industry. The South Korean Army purchased large amounts of Israeli weapons, including Uzis. In 1966, delegations from both nations visited it each other.In February 1972 the Israeli government closed its embassy in Seoul. The 1973 oil crisis and 1979 oil crisis influenced South Korea government's policies towards Israel. Temporarily, South Korea began to favor the neighbors of Israel over the state of Israel.
South Korea President Park Chung-hee requested Moshe Dayan to reconsider his decision to close the embassy, but Dayan refused. However, South Korea's diplomatic ties with Israel were not severed, they were now conducted through Tokyo. Israel's ambassador to Japan served as the nonresident ambassador to South Korea.
Following a period of normalized and cooled relations between Israel and its neighbors, South Korea approved the reopening of the Israeli embassy in 1992. The two countries soon after signed agreements to fortify cooperation in the aircraft industry and the Weizmann Institute.
Trade between Israel and South Korea grew by a factor of six, from $148 million to about $1 billion between 1990 to 2000. Within ten years, South Korea controlled 15 percent of the Israeli market in imported automobiles and 20 percent of that for cellular telephones. Israeli exports to South Korea also grew exponentially during the same time period.
In 2001, South Korea and Israeli signed a joint-agreement to establish a Research and Development fund for the purpose of developing new products.
In August 2010, Korea Venture Investment Corp. (KVIC), a state-backed fund management company, signed a memorandum of understanding with Israel's Vertex Venture Capital (VVC) to raise a US$150 million fund, which will be used to finance joint ventures or the merger and acquisition of small and mid-size venture firms in the two countries.
In 2011, an 11-member parliamentary delegation met with Israeli President Shimon Peres at the King David Hotel in Jerusalem. The delegation was led by Lee Byung-suk, former chairman of the National Assembly's Land Transport and Maritime Affairs Committee. Also present was Park Jin, former chairman of the Foreign Affairs and Trade Committee.
On 11 November 2013, Korean Ambassador in Israel Kim Il-soo announced that Israel and South Korea could become an economic powerhouse, referring to hi-tech cooperation between the countries. The announcement was issued during the First Creative Economy Forum between Korea and Israel held in Tel Aviv, which featured the exposure of the Korea-Israel Hi-Tech Network - a project aimed to increase industrial collaborations in various hi-tech fields.
- ?Lv 77 years ago
More or less. The two have great relations.
There seems to be a lot of South Korean tourism to Israel, and trade between the two seems to be significant. As far as nations go I'd count that as a friendship.
- ?Lv 67 years ago
Yes. Very close friends actually.
Both countries have a threat next door so the two countries are like parallel. The world also sees cutting edge high tech advancements from both of these countries. As I said in some ways the two countries are parallel.