Cambodia–South Korea relations
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Cambodia–South Korea relations are foreign relations between Cambodia and South Korea. South Korea has an embassy in Phnom Penh and Cambodia has an embassy in Seoul.
Free trade agreements
[edit]The two countries agreed to hold a joint FTA committee in the first half of 2024.[1]
Cooperation
[edit]South Korea has played an important role in promoting Cambodia's socioeconomic development, especially in helping the country develop major industries such as infrastructure, agriculture, healthcare, and education.[2]
In Phnom Penh in March 2024, South Korea's Ministry of Trade, Industry and Energy and Cambodia's Ministry of Commerce discussed ways to strengthen bilateral cooperation in areas such as trade, infrastructure and carbon neutrality.[1]
"Based on the young human resources, Cambodia is a nation with high growth potential, posting annual economic growth of 7 percent over the past 20 years......We hope that Cambodia emerges as the key economic partner in the ASEAN bloc through the bilateral FTA."
— Cheong In-kyo, Trade Minister of South Korea
In Cambodia's clothing and textiles sector, South Korean companies are investing heavily to build factories and create jobs for locals.[2]
Summits
[edit]South Korean President Yoon Suk Yeol and Cambodian Prime Minister Hun Manet agreed at bilateral talks to further increase bilateral trade, which hit a record $1.05 billion in 2022.[3]
See also
[edit]
References
[edit]- ^ a b "S. Korea, Cambodia discuss cooperation in trade, infrastructure, carbon neutrality". Yonhap News. March 27, 2024.
- ^ a b "The shared future between Cambodia and South Korea beyond 2023". November 3, 2023.
- ^ "(LEAD) Yoon meets with leaders of Cambodia, Laos, Philippines, Singapore". Yonhap News. September 7, 2023.
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