Type:	International treaty
Date of approval :	1423-11-03
accreditation:	Royal Decree
Approval number:	م/42
Type of Accreditation:	Totally
Validity:	Valid
Joining date:	1423-01-21
Summary:	By AI King Fahd bin Abdulaziz Al Saud approved the agreement between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of Korea regarding the mutual encouragement and protection of investments, signed in Seoul on April 4, 2002. This decision was based on Royal Decree No. 9 dated 3/3/1414 AH, in accordance with Article 70 of the Law of Governance, Article 20 of the Law of the Council of Ministers, and Articles 17 and 18 of the Law of the Shura Council. The relevant decisi...

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AGREEMENTBETWEEN

THEGOVERNMENTOFTHEKINGDOMOFSAUDIARABIA

AND

THEGOVERNMENTOFTHEREPUBLICOFKOREA

CONCERNINGTHERECIPROCALENCOURAGEMENT

AND

PROTECTIONOFINVESTMENTS

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TheGovernmentoftheKingdomofSaudiArabiaandtheGovernmentof

theRepublicofKorca(hereinaflerreferredtoasthe"ContractingParties"),

DesiringtointensifyeconomiccooperationbetweenbothStalcs,

Intending(ocrcatefavourbleconditionsforinvestmentsbyinvestorsofcither

Statemnthe(erritoryoftheotherStale,

Recognizingthatthereciprocalpromotionandprotectionofsuchinvestments

willstimulateprivatebusinessinitiativeaudincreasetheprosperityofbothStates,

Haveagreedasfollows:

ARTICLE1

ForthepurposesofthisAgreement:

(1)theterm"investment"meansanykindofasset,ownedorcontrolledby

aninvestorofaContractingPartyintheterritoryoftheother

ContractingPartyaccordingto’itslawsandregulationsandinparticular,

butnotexclusivelyincludes:

(a)movableandimmovablepropertyaswellasanyotherrightsin

rem,suchasmortgages,leases,liens,pledges,usufructsandsimilar

rights,

(b)shares,stocksanddebenturesofcompaniesandotlierkindsof

rightsorinlereslsincompanicsaswellassccuritiesissucdbya

ContractingParlyoranyofitsinvestors;

(c)claimstomoncysuchasloansortoanyperforinancehavingan

cconomicvalue,associaledwithaninvestment;

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(d)mtellectualpropertyrights,includingbutnotlimitedtocopyrights,

patents,,dustrialdesigns,technicalprocesses,know-how,

trademarks,tradeandbusinesssccrets,(radenamesandgood-will;

(c)anyrightconferredbylaworunderpubliccontractoranylicenses,

permilsorconcessionsissucdaccordingtolaw;|

anyalteration.oftheforminwhichasscis-areinvestedorreinvested

shallnotaffecttheirclassificationasinvestment,provided(hatsuch

alternationisnotinconflictwiththelegislationof(heContractingParly

inwhoseterritorytheinvestmentismade.

thelerm"returns"nicanstheamountsyieldedbyaninvestmentandin

particular,(houghnotcxclusively,includesprofit,dividends,royalties,

capitalgainsoranysimilarfeesorpayments.

theterm"investor"means;

(a)inrespectoftheKingdomofSaudiArabia:

(1)naturalpersonspossessingthenationalityoftheKingdomof

SaudiArabiainaccordancewiththelawoftheKingdomof

SaudiArabia;

(11)anyentityhavingorhavingnolcgalpersonalityand

SaudiArabiaandhavingitsheadofficeinits(emitorysuch

ascorporalions,enlerprises,cooperatives,companies,partnerships,

offices,establishments,fundsorganizations,business

associationsandothersimilarentitiesirrespectiveofwhether

ornottheyareoflimitedliability;

(ii)itspublicfinancialinstitutions,officialagenciesandauthorities

suchastheSaudiArabianMonetaryAgency,publicfunds

andothersimilarpublicinstitutionsexistinginSaudiAgia,

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Agreement between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of Korea on the Promotion and Reciprocal Protection of Investments