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South Korea pledges to support Kingdom’s ongoing development

Ben Sokhean / Khmer Times Share:
Foreign Affairs Minister Prak Sokhonn shakes hands with President Moon Jae-in. TVK

The government yesterday highlighted the success of regional summits in South Korea, noting its government pledged to support the Kingdom’s socio-economic development.

Foreign Affairs Minister Prak Sokhonn represented Prime Minister Hun Sen at the Asean-Republic of Korea Commemorative Summit and Mekong-Republic of Korea Summit this week.

On the sidelines of the summits, Mr Sokhonn held bilateral meetings with his South Korean counterpart Kang Kyung-wha and Busan Mayor Oh Keo-don.

In a press conference before his return to the Kingdom on Wednesday, Kao Kim Hourn, minister attached to the Prime Minister, said that during the bilateral meetings, both sides discussed various issues, including a soft loan of $700 million for 2019-2023.

“They discussed bilateral cooperation, including on investment, trade, finance, infrastructure, agriculture, energy, waste management and people-to-people exchanges,” Mr Kim Hourn said.

“[Mr Sokhonn] thanked South Korea for its continued contribution to Cambodia’s socio-economic development as well as its recent pledge for a concessional loan of $700 million for 2019-2023 and its grant support of $10 million for mine clearance in Battambang, Pailin and Banteay Meanchey provinces,” he added.

He said the two countries signed two important agreements: the agreement for the elimination of double taxation with respect to taxes on income and the prevention of tax evasion and avoidance, and the treaty on mutual legal assistance in criminal matters.

He said that Mr Sokhonn also thanked his South Korean counterpart for an increased quota of Cambodian migrant workers, noting that more than 61,000 Cambodian workers are living and working there.

Mr Kim Hourn said current trade volume between the two nations reached nearly $1 billion, noting both nations inked a document to launch a joint study on the possibility of a free trade agreement.

The Foreign Affairs Ministry issued a statement yesterday noting that during the Asean-ROK Commemorative Summit, Mr Sokhonn urged South Korean companies to invest in Asean.

“On enhancing connectivity, he urged the ROK to encourage more Korean companies to take part in connectivity projects in Asean countries, especially in the areas of Smart Cities, soft and hard infrastructure and skill trainings to promote economic growth and wellbeing of the people,” the statement said.

He said that South Korea has also upgraded Cambodian workers’ skills and that they will be better skilled when returning home, according to the statement.

“[He] reiterated his strong support for the ‘Mekong–ROK Business Forum’, which is a useful platform to connect businesspeople, especially SMEs, in regional and global production chains,” it added.

Mr Kim Hourn said that South Korean President Moon Jae-in’s trip to the Kingdom in March helped boost ties and cooperation between the two countries.

“Minister Prak Sokhonn told [Ms Kang] that the official visit of President Moon Jae-in to the Kingdom in March 2019 helped boost bilateral relation and cooperation between the two countries,” Mr Kim Hourn said.


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