The Korean Culture and Information Service (KOIS) reported on Sunday that an agreement on the avoidance of double taxation has been signed by the Korean and Latvian authorities.
The deal was signed by Korea's Finance Minister Kang Man-soo, and Latvian Finance Minister, Atis Slakteris, at the Asia-Europe Meeting (ASEM) conference.
It is hoped that the signing of the DTA will boost business cooperation and economic activity between the two countries, and assist the Korean technology industry in its efforts to expand the market for its products in Latvia.
The agreement will not, however, come into force until it has been ratified by lawmakers on both sides.
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