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South Korea intends to encourage investment in Kingdom

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South Korean President Yoon Suk Yeol remarks at ASEAN-Korea summit in Phnom Penh on November 11. Yousos Apdoulrashim

South Korea intends to encourage investment in Kingdom

South Korea pledged to encourage more investment in the Kingdom in the future and is committed to further strengthening cooperation between Cambodia and South Korea, according to a social media post by Prime Minister Hun Sen.

Prime Minister Hun Sen met with South Korean President Yoon Suk Yeol on November 11 on the sidelines of the ASEAN-Korea summit in Phnom Penh.

The post announced that the two leaders had discussed both regional and bilateral issues. Yoon had showed his support for ASEAN centrality and was satisfied with bilateral cooperation between South Korea and Cambodia, especially on trade and investment between the two countries.

The Facebook post quoted Yoon as saying that the two countries have good relations with each other, including government-to-government, in the private and public sectors, and people-to-people relations. In just 25 years, trade volumes between the two countries increased more than 20 times.

He added that Korea’s foreign assistance to Cambodia has increased further to assist Cambodia in its development.

“We will encourage more investors to come to Cambodia in the future and further strengthen cooperation. We want to seize opportunities through the Cambodia-Korea Free Trade Agreement non-payment of overlapping tax between the two countries,” Yoon was quoted as saying.


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