"Despite this regression, trade figures more than 3 billion USD is in question," Babacan said while addressing the opening of Turkey-Korea Business Forum.
        
Ali Babacan expressed belief that the forum would contribute to improvement of economic and commercial relations.
      
 "Despite the geographical distance between Turkey and Korea, there are close relations between the two countries. The solidarity displayed in a difficult period in the history constituted basis of the relations," he said.
        
Ali Babacan said Prime Minister Recep Tayyip Erdogan's visit to South Korea in 2004 added a new momentum to bilateral relations, and indicated that Korean President, foreign and trade ministers visited Turkey after Erdogan's visit to this country.
       
 "Economic and commercial relations are particularly on the rise. South Korea is currently the second important trade partner of Turkey in the Far East," he said.
       
 Babacan said there were 160 companies, with Korean capital, operating in Turkey and their registered capitals are around 550 million USD.
        
Babacan said number of Korean tourists has risen in the recent years adding that Turkey was eager to sign Free Trade Agreement with South Korea.