Top Korean business leaders evince interest in Cambodia

Top Korean business leaders evince interest in Cambodia

In a move to bolster economic ties and explore investment opportunities, Deputy Prime Minister Sun Chanthol, who is also the First Vice Chairman of the Council for the Development of Cambodia (CDC), recently met with prominent Korean business leaders in Seoul.

This session took place on the sidelines of the official state visit of Prime Minister Hun Manet to the Republic of Korea.

The private breakfast meeting, held at the Lotte Hotel saw participation from top-tier Korean companies such as LG Electronics, Hanshin, Daewoo E&C, EMART Group, LX International, CAMKO Motor Company and Mastern Partners Corporation. Sear Rithy, Chairman of WorldBridge Group, led the Cambodian private sector delegation.

Discussions revolved around Cambodia’s attractive investment climate and the potential for Korean firms to establish manufacturing and real estate projects in the country. Several companies expressed keen interest in investing and expanding their existing operations.

Chanthol emphasized the great opportunity that Cambodia offers for electronics and automotive supply chains, citing the nation’s large initiative to expand technical and vocational training to Cambodia’s youth. He also highlighted agricultural processing and infrastructure development opportunities.

A highlight of the meeting was the announcement by WorldBridge Group, sponsor of the event, to sign a Memorandum of Understanding (MoU) with Daewoo E&C. The MoU outlines their intention to collaborate on real estate and industrial development projects in Cambodia.

Rithy expressed optimism about the potential for mutually beneficial partnerships, emphasizing knowledge sharing and collaboration as drivers of economic development in both nations.

The meeting concluded with a renewed commitment from both Cambodia and South Korea to deepen cooperation and foster a stronger economic partnership. khmertimeskh

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