Seoul, South Korea (FN), Feb. 4 – President of the Republic of Korea Moon Jae-in pledged to send more Korean investors to invest in the Kingdom, especially in infrastructure.
President Moon spoke in a meeting with Cambodian Prime Minister Hun Sen on February 4, 2020 in Seoul, where Samdech attended the World Summit 2020 of the Universal Peace Federation.
Both leaders noted the great improvement of relations and cooperation between the two countries. The premier also requested President Moon to open bigger markets for Cambodian products, especially agricultural products.
The two leaders also discussed the issue of the Korean Peninsula, which Prime Minister Hun Sen advocates for peace in the Korean Peninsula.
Cambodia’s Strongman Hun Sen invited President Moon to attend the 13th Asia-Europe Summit, under the theme “Strengthening Multilateralism for Shared Growth”, which is scheduled to take place in Cambodia in the upcoming November 2020, with the aim of building international consensus on the importance of multilateral framework in addressing global challenges.
Cambodia and South Korea established diplomacy on 30 October 1997 under the direct initiative of Prime Minister Hun Sen with the then President of South Korea Kim Young-sam.
The diplomatic relation has ushered in a period of remarkable growth in the bilateral ties across the full range of political, economic, development and cultural cooperation.
According to Korean Embassy in Phnom Penh, the Republic of Korea has provided Cambodia, one of its major partner countries for development cooperation, with USD 700 million of official development assistance (ODA).
“More than 250 Korean companies have involved in various business activities in Cambodia. Two-way trade has increased twentyfold since 1997, reaching 970 million US dollars in 2018. Korea is also the second largest foreign direct investor in Cambodia, with a cumulative total of 5.8 billion US dollars in investment. Trade volume in 2019 is nearly USD 1 billion,” according to the embassy.