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South Korean businesspeople want to invest in Thailand
By Digital Content



BUSAN, Dec 11 -- Prime Minister Prayut Chan-o-cha told leading Korean business leaders here that there are many investment opportunities in Thailand.

He invited them to Thailand's border economic zones and the Dawei special economic zone project in Myanmar. The South Korean private sector has become more interested in expanding investment in Thailand, he said.

This is the second day of the ASEAN-South Korea Commemorative Summit 2014 marking the 25th anniversary of the relationship.

The summit opened in Busan yesterday and ends tomorrow.

Gen Prayut had a working breakfast with key Korean businessmen this morning.

His breakfast companions included representatives of the Korean Trade and Investment Promotion Agency (KOTRA), K-water Co, Lotte Hotel & Resort Co that also operates duty-free shops, Hana Tour Service (Korea's top ranked tour company), LG Electronics Co, the transport and railway state enterprise KORAIL, Samsung Co, Hyundai Motor Co and POSCO, the world's third largest steel producer.

Thai government spokesman Yongyuth Mayalarp said the prime minister invited South Korean investors to expand their businesses in Thailand where there are plenty of investment opportunities.

The prime minister told the gathered business community that Thailand is an important automotive production base for ASEAN and could serve South Korean automotive production as well as as Thailand is ready in terms of its infrastructure, markets and the popularity of Korea as a brand.

The prime minister proposed that South Korean technology could increase the value of Thai farm and food products and that South Korea should import more Thai agricultural products such as chicken, fruit, rice and natural rubber.

Gen Prayut invited South Korea to help develop five border economic areas in 18 provinces adjacent to Myanmar, Cambodia, Laos and Malaysia.

Gen Prayut also said that Thailand would build double railway tracks, standard-gauge tracks and high-speed railways and both countries should discuss collaboration in such projects. (MCOT online news)


-- TNA 2014-12-11

[NeverSure]

Please tell me about it after they make the big investments, OK?

This string of hoped-for good news for the future used to happen about once a week and then usually by TAT. Then it started to be daily but by members of the government. Now it is accelerating to more than once a day.

Today, on this site in the news, it is the airport predicting being busier next year, a prediction of 5% growth in car sales next year, a prediction of an increase in tourism, future sales of rice to Africa, and that's just what I can remember of today's news here right now.

[JeremyBowskill]

"Prime Minister Prayut Chan-o-cha told leading Korean business leaders here that there are many investment opportunities in Thailand."

I tell my wife many things (usually involving bottom fun) yet she doesn't seem convinced, wonder if this is a similar situation.....

[deckape]

South Korean businesspeople want to invest in Thailand

Yup, that's what they told us. They are in favor of reforms before elections, too.

[Reigntax]

I think they have mixed up their bearings. I sure It's meant to read North Korea but the General just has a problem with the country going south!

[LuckyLew]

during the meeting did he tell them they all need work permits, must report every 90 days and can only own 49% of any company they start here?

[lil fluffy clouds]

What's he selling, the back door?

[Don Aleman]

Yeah right - once they are released from the " Institution " !

[mike123ca]

At least the South Koreans will not allow Thai citizens to buy land in South Korea. The Koreans believe in reciprocity for its citizens.

[lildragon]

Don't South Koreans have a really hard time with visas in Thailand these days?

[falangjim]

That's actually interesting news. South Korean companies have proven their capability in places like VN, where their buildings and businesses sprout up all over the place. I wonder if Korean management could handle Thais, though. Koreans are strict and not above giving an ass kicking to subordinates. Would Somchai take it on the chin, or call 10 of his buddies to retaliate? Methinks the latter. Koreans have a different work ethic, too. They actually get work done at the expense of relationships, whereas Thais mix a lot of play into their work.

If the Koreans do start coming in droves, it might drive down the cost of kimchi here. I can't believe what I pay for a small bag of it.

[Alwyn]

I'm still trying to see the link between the headline which tells us Korean business people want to invest in Thailand and the fearless leader apparently telling them there are plenty of investment opportunities in Thailand? Don't get me wrong, I think it would be fantastic if they invest in Thailand and even better if they can show their Thai employees what a proper work ethic is, it might catch on.. (yeah right, I hear people say in tandem with me)

[nong38]

UNtil they found out how dilligent Thai workers were.

[docshock13]

Article says nothing about S Koreans "wanting to invest in Thailand" which is declared in the headline. It only outlines the potential opportunities the PM "invited" Korea to invest in.

I see the Thai media, I mean propaganda machine, is at it again.

Surprised the tourism minister didn't tag along to try and convince Korean celebs to submit selfies in a bid to win a trip to a buffalo manure farm in Isaan.

[lildragon]

Don't Koreans have a very hard time with visas in Thailand these days?