Posted on 16 October 2009
The Mirror, Vol. 13, No. 634 – Thursday, 15.10.2009
(Posted by CAAI News Media)
“Just a week before a visit by the South Korean President to Cambodia, the ambassador noticed that the pace of investment, of commerce, and of other ties between Cambodia and Korea has flourished significantly, making South Korea the country with the most investors in Cambodia and with the highest number of international tourists’ arrivals since the establishment of ties between both countries in 1997.
“The President of the Republic of Korea will lead a government and businesspeople’s delegation to make an official visit to the Kingdom of Cambodia for two days from 22 to 23 October 2009.
“During a roundtable meeting organized by the Club of Cambodian Journalists with support from the Konrad Adenauer Foundation of Germany on 14 October 2009 at the Hotel Cambodiana, the Korean Ambassador to Cambodia, Mr. Lee Kyung-Soo, said that the two-day visit by the Korean President in Cambodia is made in response to an invitation by Samdech Akkak Moha Senapadei Dekchor Hun Sen, who officially visited the Republic of Korea (South Korea) in June 2009.
“The Korean Ambassador to Cambodia, Mr. Lee Kyung-Soo, recounted the achievements of the Cambodian-Korean ties ahead of a visit by the head of the Korean government to Cambodia during the forum about cooperation between Cambodia and the Republic of Korea. He said that besides meeting with the King and top leaders of Cambodia, the South Korean President Lee Myung-Bak will attend talks with Cambodian and Korean investors in Phnom Penh.
“The Ambassador said that Korean investments in Cambodia increased up to US$2.7 Billion by 2007. In 2008, investments amounted US$1,238 million. He said these are figures from the Council for the Development of Cambodia. In the first six months of 2009, Korean investments amounted to only US$100 million, declining by 58% compared to the corresponding period in 2008. He went on to say that this was due to the global economic crisis, but not due to any other reasons.
“Ambassador Lee Kyung-Soo added that after establishing diplomatic ties in 1997, Korean investors invested in the garment sector, in tourism, and in mineral resources development. From 2007 onward, Korean investors invested also in construction, real estate, agriculture, industry, and finance and banking.
“As for commerce, Korean is in the 7th position of countries importing products to Cambodia, worth US$309 million, while Cambodia is in the 80th position of countries importing to South Korea, exporting products worth US$294 million.
“Also, South Korea is one of the important donors of Cambodia. Since 2001, there have been US$220 million in loans and US$46 million in grant aid.
“The Ambassador said during the forum with Cambodian journalists that at present, there are 8,400 Khmer people living (legally) in Korea, including Khmer workers, Khmer women married to Korean men, and Khmer students. Among these 8,400 Khmer people, 2,900 are Khmer women married to Korean men, and 4,900 workers. There are about 4,000 Korean people living in the Kingdom of Cambodia.
“According to an announcement of the Ministry of Foreign Affairs and International Cooperation of Cambodia on 14 October 2009, during the official visit to Cambodia, Mr. Lee Myung-Bak will meet the King of Cambodia, Preah Karuna Preah Bat Samdech Preah Boromaneath Norodom Sihamony. Then he will meet in courtesey visits with the President of the Senate, Samdech Akkak Thoma Pothisal Chea Sim and the President of the National Assembly, Samdech Akkak Ponhea Chakrei Heng Samrin. He will have top bilateral meetings with the Cambodian Prime Minister, Samdech Akkak Moha Senapadei Dekchor Hun Sen.
“The announcement says that Samdech Dekchor Hun Sen and Mr. Lee Myung-Bak will witness a signing ceremony for two agreements between the Minister of Foreign Affairs of Cambodia, Mr. Hor Namhong, and the Minister of Foreign Affairs and Commerce of the Republic of Korea, Mr. Yu Myung-Wan – an extradition agreement, and an agreement on financial credits for economic development cooperation from 2009 to 2012.
“During the first official visit by the South Korean President, Mr. Lee Myung-Bak to Cambodia, the Ministry of Foreign Affairs announced that five more documents are expected to be signed also. 1. Agreement about cooperation between the Chamber of Commerce and Industry of the Republic of Korea and the Chamber of Commerce of Cambodia; 2. Agreement on cooperation to produce publications; 3. Memorandum of Understanding about cooperation in the mine sector; 4. Memorandum of Understanding about joint cooperation in exploring mineral resources; and 5. Memorandum of Understanding about cooperation in investments to plant trees and on problems of climate change.”
Rasmei Kampuchea, Vol.17, #5021, 15.10.2009
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Thursday, 15 October 2009
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