Korean Businesses Keen To Partner With Locals

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A group of South Korean investors showed great interest in partnering up with local businesses at an event held this week to promote business ties between the two nations and boost trade.

A woman talking on the phone walks past an electronic board of the Korea Composite Stock. Reuters

The first edition of a business matchup and networking event with Korean and Cambodian firms was held yesterday at the Ministry of Handicraft and Industry in Phnom Penh, organised by Korea’s Public Procurement Service.

It was attended by 16 Korean companies from a variety of economic sectors, including construction and medical supplies.

Lee Kyoungwon, deputy-director of global procurement market support at the Public Procurement Service, told reporters the event seeks to increase the presence of high quality South Korean products and brands in the local market through business-to-business deals.

“The goal is for locals to know more about the quality of products made by South Korean firms.

“We hope to partner up with local investors to import products from Korea,” Mr Lee said, adding that the agricultural sector in particular has great potential in the eyes of Korean investors.

The event is indication that foreign investors and businesses are interested in the local market, according to the Cambodia Chamber of Commerce (CCC).

Sin Chanthy, a member of CCC and president of the Cambodia Freight Forwarders Association, said Korean investors are now paying close attention to the local construction and agriculture sectors.

“Many investors want to invest in Cambodia in a variety of industries, but particularly in construction because this sector is booming.

“It is a good sign that, through events like this, trade between Cambodia and Korea continues to grow,” Mr Chanthy said.

This article was originally published in the Khmer Times.