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South Korean Investors Urged to Invest More in Thailand

28 November 2019 (Readers 3)

Prime Minister Gen. Prayut Chan-o-cha has urged South Korean investors to invest more in Thailand, especially in the Eastern Economic Corridor (EEC), in the fields of Industrial 4.0 and 4IR (i.e., automotive, electric vehicles, biotechnology, digital, robotics, and Bio-Circular-Green Economy.)

The Prime Minister on 25 November 2019 had a bilateral meeting with President Moon Jae-in of the Republic of Korea during the 3rd ASEAN-ROK Commemorative Summit and the 1st Mekong-ROK Summit in Busan, Republic of Korea.

President Moon expressed support for the Korean private sector to invest in Thailand. He also expressed South Koreas readiness to expand cooperation with Thailand, especially in the economic area, human resource development, and ASEAN Smart City Network, which are in line with the countrys New Southern Policy (NSP).

Both parties also agreed to strengthen comprehensive cooperation at both bilateral and multilateral levels, i.e., on water management, infrastructure development, MSMEs development, education, and people-sector networking. South Korea also stands ready to exchange knowledge and innovation with Thailand in the fields of its expertise.

Following the bilateral meeting, the Prime Minister and South Korean President witnessed the signing of three MOUs between Thailand and South Korea: 1) MOU between the Ministry of Higher Education, Science, Research and Innovation of the Kingdom of Thailand and the Ministry of Science and ICT of the Republic of Korea on Cooperation in Science, Technology and Innovation; 2) MOU between Korea Trade-Investment Promotion Agency (KOTRA) and the Eastern Economic Corridor (EEC) Office to promote cooperation and business opportunity in EEC and high-tech industries; and 3) MOU on Cooperation for Exchange of Information to Resolve Thai Illegal Employment in the Republic of Korea.
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