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

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • China-Cambodia tourism forum held

    The Cambodian tourism sector must be prepared to welcome a growing number of Chinese tourists, as they lead the globe in the number of outbound travellers and were responsible for the most visitors to the Kingdom last year, the country’s tourism minister said on