The first Korea-Turkey Cooperation Dialogue meeting comprised of sessions on economic, socio-cultural and political relations was held on 12 December 2011 in Seul with the participation of Dr.Selçuk Çolakoğlu from SAM. Nine academicians and one businessman from South Korea and nine academician and three businessmen from Turkey participated in the meeting. The recommendations for further development of bilateral relations that emerged during the meeting are as follows:
1. Economic Relations
- Negotiations on Free Trade Agreement should be completed in the first half of 2012.
- Bilateral cooperation on high technology should be improved.
- Joint investment projects in third countries such as establishing a joint venture of Turkish Airlines, Asiana Airlines and South Korea Airlines should be carried out.
- South Korean companies should invest on wind power and solar energy projects in Turkey.
- Agricultural products that Koreans consume should be farmed in Turkey
- Cooperation on defense industry and joint production should be enhanced.
- Cost-benefit Analysis of trading by TL and Won should be examined.
2. Socio-Cultural Relations
- A Joint Turkish-Korean University should be established.
- Yunus Emre Foundation should open an office in Seul.
- Mutual academician and student exchange programs should be accelerated and to this end wages of Korean academicians should become more satisfactory.
- In order to introduce Turkish culture, movie, music and food festivals should be organized.
3. Political Relations
- Strategic relations between Turkey-South Korea which are both members of G-20 should be improved.
- Common strategies towards regional and global challenges should be developed.
- High level visits should be held regularly and follow up mechanisms should be created to make the bilateral relations more vigorous and dynamic.
- The premises of the Turkish Embassy should be moved to a detached place.