The Government of the Republic of Korea and the Council of Ministers of the Republic of Albania (hereinafter referred to as "the Contracting Parties"),

Desiring to intensify economic cooperation between the two States,

Intending to create favourable conditions for investments by investors of one Contracting Party in the territory of the other Contracting Party on the basis of equality and mutual benefit, and

Recognizing that the promotion and protection of investments on the basis of this Agreement will stimulate business initiative in this field,

Have agreed as follows: