Logo of Phnom Penh Post newspaper Phnom Penh Post - ...while contentious South Korea ties strengthened

...while contentious South Korea ties strengthened

...while contentious South Korea ties strengthened

CAMBODIA and South Korea signed investment and technical cooperation accords Feb

10 which are expected to strengthen business ties, officials said.

"The two agreements [we] have signed are marking another milestone in chapter

of Cambodian-Korean relations," said K.T. Park, head of South Korea's diplomatic

mission in Cambodia, at a signing ceremony at the Ministry of Foreign Affairs.

Officials said an investment protection and promotion agreement would protect Korean

companies against any possible nationalization of industry and establish most-favored-nation

trade preferences between the two countries, while an economic, scientific and technical

agreement would promote the exchange of experts, information and equipment.

Park said the accords fostered closer relations between the two countries, but added

"there is still one important task to be realized" - a reference to the

fact that full diplomatic ties have yet to be established.

After years of diplomatic absence, Phnom Penh established mission-level ties with

South Korea last May - at the instigation of Second Prime Minister Hun Sen, who two

months later visited Seoul, the first senior Cambodian official to do so since 1975.

Funcinpec has also supported greater ties with Seoul, and Minister of Foreign Affairs

Ung Huot (Funcinpec) praised the signing of the latest accords as a necessary move.

But because of opposition by King Norodom Sihanouk, further diplomatic ties have

not been formalized between Phnom Penh and Seoul.

Sihanouk has a house in North Korea and was a close friend of the Stalinist state's

late leader, Kim Il-Sung. The King last year declared that he would not accept the

credentials of any South Korean Ambassador sent to Cambodia, and urged "pro-Seoul

forces" to wait until his death before establishing full diplomatic ties.

Seoul opened a trade office in Cambodia last October. South Korean firms invested

$12 million in Cambodia last year, mainly in garments, said Park.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • Nestle’s debut may spur dairy market

    Leading confectionery manufacturer Nestle plans to invest in Cambodia by setting up an operation in the near future, a move majorly hailed by local dairy farmers as a means of boosting the fresh milk market in the Kingdom. During a visit by a delegation led

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement