Cambodia, S Korea to set up talks channel between Korean firms, CDC

The countries also decided to develop a special economic zone (SEZ) in Cambodia for South Korean companies interested to invest and expand production chains in the country.

The decisions were arrived at during high-level talks between Prime Minister Hun Manet and South Korean President Yoon Suk Yeol during the visit of the latter to Seoul. Both leaders discussed bilateral cooperation in several sectors, including infrastructure development and trade connectivity.

Both sides also agreed to boost digital trade and intellectual property cooperation for innovation-driven sustainable development while remained committed to strengthening supply chains.

Earlier, Manet witnessed the signing of six memoranda of understanding (MoUs) between his country and South Korea at the Cambodia-Korea Business Forum.

The first MoU was signed between the Cambodia Chamber of Commerce (CCC) and the South Korean Chamber of Commerce and Industry.

The next three MoUs were signed by the National Bank of Cambodia (NBC) with JB Financial Group Co Ltd, KB Kookmin Bank Co Ltd and Woori Bank to promote cross border QR payments and remittance for migrant workers.

The fifth agreement was inked by the Credit Bureau (Cambodia) Co Ltd with the Korea Credit Bureau (KCB) and the Jeonbuk Bank Co Ltd on cross-border credit report sharing, while the sixth MoU was signed between the Worldbridge Group of Companies and Daewoo E&C.

Fibre2Fashion News Desk (DS)