KCCI to Host Forum Inviting Hun Manet, Cambodian Prime Minister, on the 16th
Over 250 Businesspeople Attend...Business and Financial Institutions Sign MOUs
Businesspeople from Korea and Cambodia have agreed to expand cooperation in areas such as advanced industries, fintech, and urban development through mutual investment and information exchange.
Seoul Jung-gu Korea Chamber of Commerce and Industry Sangyohui Building exterior view. [Photo by Korea Chamber of Commerce and Industry]
The Korea Chamber of Commerce and Industry (KCCI) jointly held the 'Korea-Cambodia Business Forum' with the Cambodia Chamber of Commerce at the KCCI building on the 16th. This forum, held on the occasion of Cambodian Prime Minister Hun Manet's visit to Korea, was organized to support the mutual growth of both countries by promoting private-sector mutual investment and economic cooperation.
On the Korean side, more than 150 participants attended, including government officials such as Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy, Deputy Minister Yang Byung-nae of Trade, as well as business leaders including Lee Hee-beom, Chairman of the Korea-Cambodia Economic Cooperation Committee (Chairman of Booyoung Group), Park Il-jun, Executive Vice Chairman of KCCI, and Lee Kang-hoon, President of the Korea Overseas Infrastructure & Urban Development Corporation (KIND).
On the Cambodian side, over 100 participants attended, including Prime Minister Hun Manet, Deputy Prime Ministers Sun Chanthol and Sok Chenda Sophea, Minister of Commerce Cham Nimul, Minister of Labor Heng Sour, and key business figures including Chairperson Nek Oknya Kut Meng of the Cambodia Chamber of Commerce.
At the forum, the Cambodian government’s investment environment and incentive programs, which actively pursue foreign investment attraction policies, were introduced. To assist Korean companies entering Cambodia, the case of Camco Motor was presented. Camco Motor achieved success through a thorough localization strategy.
In his keynote speech, Cambodian Prime Minister Hun Manet said, "Korea was one of the earliest countries to start investing in Cambodia and is among the countries that have made the largest direct investments." He added, "It is necessary to continuously strengthen bilateral cooperation not only between the two governments but also in the private corporate sector."
Minister Ahn Duk-geun of the Ministry of Trade, Industry and Energy stated in his congratulatory remarks, "It is now time to upgrade economic cooperation between the two countries to the next level," adding, "We need to expand cooperation in areas such as trade and investment expansion, advanced industrial technology cooperation in automobiles and machinery, and international greenhouse gas reduction cooperation."
The co-chairs of the Korea-Cambodia Economic Cooperation Committee from both countries delivered opening and welcoming remarks. Lee Hee-beom, Chairman of Booyoung and Korean co-chair, said, "If Cambodia’s dynamism and the innovative capabilities of Korean companies are combined, there will be infinite synergy effects."
Cambodian co-chair Kut Meng, Chairperson of the Cambodia Chamber of Commerce, stated, "Cambodia plans to revise laws and expand various incentives to attract investment from Korean companies."
During the event, six Memorandums of Understanding (MOUs) were signed, including agreements between economic organizations of both countries, financial institutions, and urban development project operators.
The KCCI and the Cambodia Chamber of Commerce, representing the economic sectors of both countries, signed an MOU pledging to expand future economic exchanges.
Subsequently, the National Bank of Cambodia and three domestic financial institutions (JB Financial Group, KB Kookmin Bank, and Woori Bank) each signed agreements related to overseas payments. CBC (Credit Bureau Cambodia) signed an MOU on credit information sharing with KCB (Korean Credit Bureau) and Jeonbuk Bank.
Finally, Worldbridge Group and Daewoo E&C signed a joint development agreement for a new city and industrial complex in Cambodia.
In the presentation session, Sok Piseth, Vice Chairman of the Cambodia Chamber of Commerce, introduced the "Current Economic Status and Investment Environment of Cambodia." Sal Senera, Deputy Secretary-General of the Cambodia Investment Board, presented on "Cambodia’s Investment Environment and Incentives."
From the Korean side, Yang Myung-hwan, General Manager of Camco Motor, introduced "Successful Cases of Korean Companies Entering Cambodia."
Park Il-jun, Executive Vice Chairman of KCCI, said, "More than 300 Korean companies have entered Cambodia in sectors such as food, textiles, manufacturing, construction, and finance, creating over 100,000 jobs," adding, "I hope that through this forum, companies from both countries will expand cooperation and exchanges in various fields such as advanced industries, digital, and green industries."
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