The Taipei Economic and Cultural Office (TECO) in Busan held a National Day reception this Thursday, inviting hundreds of South Korean politicians, overseas Taiwanese, and other guests. 

At the event, TECO Director Kuo Cheng-kai (郭承凱) spoke about the fruitful results Taiwan has achieved in diplomacy and trade during the past year. He also emphasized Taiwan’s “Ten Major AI Infrastructure Projects” initiative, which will see NT$100 billion (US$3.3 billion) invested in the cultivation of AI talent, and how the initiative demonstrates the country’s commitment to growing the AI industry. 

Bilateral trade between Taiwan and South Korea reached a record high of US$64.5 billion in 2024, Kuo said, making South Korea Taiwan’s fourth-largest trading partner and source of imports. Total trade from January to August 2025 saw a 45% increase compared to the same period last year. 

Kuo emphasized that Taiwan and South Korea already had a fruitful relationship in the global semiconductor supply chain, to which the rise of AI has added further momentum. In addition, the countries have become each other’s third-largest source of tourists, with 2.43 million mutual visits between them.