This study delves into the evolution and current state of relations between the State of Israel and the Republic of Korea. It aims to uncover the key factors driving their socio-political and economic ties, and project their future interaction. Through examining Israeli and Korean sources, the research reconstructs the historical development of their relationship, highlighting key points for understanding their progress. The structure of the article meets the task of reflecting the most significant factors for the relationship between the two countries. The research methods and reviews of existing literature on the topic are considered. The retrospective analysys of the development of Israel-South Korea's political and diplomatic relations is done. It sheds light on the Arab-Israeli conflict's role as a past hurdle in their rapprochement. Moving forward, the study examines the United States' influence as a significant external factor, highlighting similarities and differences in US policy towards both nations. Finally, the analysis shifts to the economic dimension of their cooperation. Beyond exploring basic patterns in their economic ties, the study delves into their collaboration in the sphere of innovation, holding significance for both countries. The authors conclude that despite their relatively late start in collaborating, Israel and South Korea possess substantial potential for growth in their diplomatic, political, and economic relations.