By Tim Vutha
Business delegation from the South Korea’ Changwon City , on November 2 explored business opportunity with Cambodian counterparts through a trade mission mainly on auto- spare part industries. Speaking at the trade talk in Phnom Penh, Director-General for Economic Affairs from Changwon City and head of the delegation, Dr. Jung ky-Bang said:
“So far Cambodia-Changwon have not traded much yet, but he expressed his optimism in expanding trade after this business talk especially on auto trading.
He said: “this business visit focuses on seeking the business partners on auto- spare parts production,”. “I also will consider opening factories in Cambodia if the necessary needs.”. “I notice Phnom Penh is now an emerging industrial city, where no heavy industries have not installed yet, so Changwon’ Industries is pleased to guide it,” he reveals. That is the reason that Changwon business delegates have arrived Cambodia. the trade talk attended by seven Korean companies, and dozen of Cambodian businesspeople, the trade mission linked Korean producers with Cambodian buyers, wholesalers, and retailers on materials related to auto-spare parts, electronics, ICT, and textile.
Changwon is one of the South Korea’s main industry zone where is habituated by about 3,800 factories ranking from the producers of Ceramic tools, ICT apparatus, steels, mechanics, vehicle spare part to heaviest industries, according to Dr. Bang.
‘It is now the 6th time that this business talk was hosted in Phnom Penh since 2007, and such business talks will be organized next years between Cambodia and Changwon, ” said Choun Selarith, representative of JS Global (Cambodia), a Korean company that initiated the event an created in Phnom Penh since 2007.
The report from event stated those Korean investors have considered their investments in the fields of construction like Skyscrapers, Apartments, Condominiums, and Commercial Apartments, infrastructures, manufacturing, IT, national resources, tourism, Hotel, Restaurant, agro-industrial and agricultural sector.
“Cambodia-Korea Trade volume has continuously increased in the past few years. For eight months of 2011, Cambodia’s exporting to Korea valued $50.7 million with an increase of 21 percent, and Korea ’s importing to Cambodia was worth USD332, 998 million as soaring up of 140 percent if comparing to 2010, according to report from the Embassy of the Kingdom of Cambodia in South Korea . “In 2010, there were 272,000 South Korean visitors seeing Cambodia . In 2011, it is hoped around 38% increases if comparing to 2010,” the report noted.
Source: The Southeast Asia Weekly, November 6-12, 2011, Vol. 5, Issue 45, Page 10