S. Korea, Colombia agree on double-taxation avoidance deal

SEOUL, Nov. 29 (Yonhap) -- South Korea and Colombia have agreed on a
double-taxation avoidance deal in a bid to bolster bilateral trade and
investment, Seoul officials said Sunday.
The deal was reached after the governments of the two nations held negotiations
in Seoul which kicked off on Tuesday for a four-day run, according to the
Ministry of Strategy and Finance.
A formal agreement is to be signed in the near future and will then be forwarded
to the legislatures of the two countries for ratification, the ministry said.
The pact is expected to help encourage South Korean businesses to enter the
resource-rich South American country by preventing dual tax burdens. South Korea
has put into effect similar avoidance deals with 74 countries, the ministry said.
kokobj@yna.co.kr
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