As Cambodia-South Korea trade grows, Cambodia Angkor Air is launching direct flights to the southwestern Korean county of Muan.
The first flights from Phnom Penh will commence on December 29 and from Siem Reap on January 2.
“The new connection opens up even more opportunities for travellers and makes it easier than ever before to explore the rich culture, beautiful landscapes and delicious cuisine of both countries.”
a spokesperson for the airline told Khmer Times yesterday.
“Muan is known for its beautiful natural beauty, culture and modernity.
“It’s a beautiful tidal flats area of Korea that has been recognized as a World Heritage Site by UNESCO.
“Muan is also a great starting point for travellers wishing to explore the vast Jeolla (provincial) region, including its nearby islands and charming beaches.
“We chose Muan because it is a key place in the south of the country.”
The Ministry of Commerce hosted the “Cambodia-Korea Business and Investment Forum” last weekend during the Cambodia Trade Expo to strengthen and expand trade and investment ties.
To further entice Korean businesses, Cambodia is prioritising the development of special economic zones (SEZs) in partnership with Korean investors.
Minister for Labour and Vocational Training Heng Sour last week urged Korean businesspeople to invest in an SEZ in the Kingdom.
“As a strategic partner, Korea is among countries that have large investments in Cambodia,” he told a visiting business delegation from South Korea’s Gyeonggi province.
The Cambodia-Korea Free Trade Agreement is also a significant driver, particularly for encouraging investment in agricultural production and processing for export to Korea.
“The creation of a Cambodia-Korea SEZ would undoubtedly attract more Korean investors and boost bilateral trade volumes,” Deputy Secretary-General of the Cambodian Investment Board Suon Sophal said at the Cambodia Trade Expo on the weekend.
Cambodia Chamber of Commerce vice-president Lim Socheat told the Korean trade delegation that Cambodia’s investment law offers the same incentives for both local and foreign investors.
“I strongly encourage Korean businesses to explore opportunities and form partnerships with Cambodian companies.”
According to the General Department of Customs and Excise, Cambodia-Korea trade from January to November amounted to $761.86 million, marking an 11.5 percent increase from $683.32 million during the same period in 2023.
Exports to Korea rose 13.8 percent to $288.3 million, mainly insulated wiring, shoes and sweaters.
Imports from Korea grew 10.2 percent to $473.56 million, resulting in a trade deficit of $185.25 million, up from $176.49 million in the same period last year.
Top imports include petroleum products, gold and semiconductors.