PHNOM PENH, Oct. 14 (Xinhua) -- Hyundai Company of South Korea will build a vehicle assembling factory in Cambodia, South Korean ambassador to Cambodia said on Wednesday.
"The vehicle assembling factory will be opened in coastal Koh Kong Province," Lee Kyung Soo, South Korean ambassador here told reporters in a news conference on the state visit of South Korea president Lee Myung Bak to Cambodian on Oct. 22-23.
The press conference is organized by the club of Cambodian Journalists.
But Lee Kyung Soo did not give the details about the amount invested by Hyundai in Cambodia. Deputy Director General of Hyundai Group already paid a visit to Cambodia a few days ago, LeeKyung Soo said.
The press release from South Korean Embassy in Phnom Penh said that Camko Motor Company is building a Hyundai car assembly factory in Koh Koh province, about 370 km southwest of capital Phnom Penh. It covered land area of 165,000 square meters with two facilities for maintenance and dormitory. It can assemble 3,000 cars per year and the type of car including SUV, Van and other cars.
According to Lee Kyung Soo, South Korea's investment in Cambodia last year was worth about 1,238 million U.S. dollars, but for the first six months of this year, the investment decreased about 58 percent compared with the same period of last year because of the global financial crisis. South Korea's investment in Cambodia focuses on the rubber plantation, mines, energy, oil and gas, real estate, tourism, construction, agri-industry, Lee Kyung Soo said.
For the bilateral trade between the two countries in 2008, Cambodia imported about 309 million U.S. dollars worth of products from South Korea and Cambodia's export to South Korea about 294 million U.S. dollars. So far this year the two-way trade volume is worth about 120 million U.S. dollars. Both sides will try to foster more trade volume, Lee Kyung Soo said.
"The vehicle assembling factory will be opened in coastal Koh Kong Province," Lee Kyung Soo, South Korean ambassador here told reporters in a news conference on the state visit of South Korea president Lee Myung Bak to Cambodian on Oct. 22-23.
The press conference is organized by the club of Cambodian Journalists.
But Lee Kyung Soo did not give the details about the amount invested by Hyundai in Cambodia. Deputy Director General of Hyundai Group already paid a visit to Cambodia a few days ago, LeeKyung Soo said.
The press release from South Korean Embassy in Phnom Penh said that Camko Motor Company is building a Hyundai car assembly factory in Koh Koh province, about 370 km southwest of capital Phnom Penh. It covered land area of 165,000 square meters with two facilities for maintenance and dormitory. It can assemble 3,000 cars per year and the type of car including SUV, Van and other cars.
According to Lee Kyung Soo, South Korea's investment in Cambodia last year was worth about 1,238 million U.S. dollars, but for the first six months of this year, the investment decreased about 58 percent compared with the same period of last year because of the global financial crisis. South Korea's investment in Cambodia focuses on the rubber plantation, mines, energy, oil and gas, real estate, tourism, construction, agri-industry, Lee Kyung Soo said.
For the bilateral trade between the two countries in 2008, Cambodia imported about 309 million U.S. dollars worth of products from South Korea and Cambodia's export to South Korea about 294 million U.S. dollars. So far this year the two-way trade volume is worth about 120 million U.S. dollars. Both sides will try to foster more trade volume, Lee Kyung Soo said.
11 comments:
wow great great great !!!
jUST DON'T GRAB LAND FROM THE POOR FOR FREE!!! aH LY CHOUNG FATH AND AH KWACK!
LIGHTNING AND TYPHONE WILL WAIT FOR THE EVILS!
There is Camko City. And now Camko Motor Company wich will be followed by the Camko Electronic in the near future! Trade ballance: "for the bilateral trade between the two countries in 2008, Cambodia imported about 309 million U.S. dollars worth of products from South Korea and Cambodia's export to South Korea about 294 million U.S. dollars". On top of this, more Cambodian workers will be send to Korea in the years to come. Thank you Korea!
Camko stock is setting soon.
Awesome news!
This S-Korean president used to be HUN SEN personal adviser. Now is in control of S-Korea and team up with HUN SEN to help rebuild Cambodian infrastructures and everything.
Great Work!!
CamKo!!
If you pissed off now wait until you hear this...Angkors is contracted to the Koreans.
Just don't celebrate yet. More investments mean more grabbing land from the poor by the officials.
12:36AMis may better then give too ah Vietnamese SOK Kong!!!!of fucking Sokimex of the fucking Hanoi!@!
good for cambodia. i have nothing against that as not only it will recreate job for our young and vibrant people, it also will give cambodia experience and skills in the world of modern technology, etc... it is good to adopt modern technology for the growth of cambodia and the skill for our khmer people. if we think smartly, we can see that this is for the good of all cambodia and khmer people, not just a political group or some political interest or what have you. those who have a strong word against it should think again the long term benefit for cambodia and so forth. of course the hunter/gatherer society is good for the planet, the environment, etc, however, let's face the reality, though, because if that's the case how some people want it in cambodia, then the rest of the world should stop development as well and all should go back to hunter/gatherer society or institution, but to pick on cambodia for wanting develop and be modernized, it is questionable whether these opposing individuals are friends or foes of cambodia and the khmer people, really! i say, go for it, cambodia, encourage and ask the industrialized nations out there to come and invest and do business and visit and see cambodia for a change. cambodia and khmer people deserve better. god bless cambodia.
good news for cambodia. more job creation and more new needed skill in technology. hey, it's true that cambodia waits for no one, really! get over it, ok! life goes on with or without you, really! think about it, ok! god bless cambodia.
All Asian Nations should become one just like European Nations, having a one currency "Euro" as well as having a common goal and common interest. Let say if one country is getting into trouble then the rest will come together as one and help that nation. All nations need to come together to create a common law to protect everyone equally and that everyone is “equally important” If Asian people don't look for ways to unite, we will be wiped out by other nation just like that and it is happening now to some countries right in front of your eyes already. Asian Nations, you all should be smarter by now, too. I give you one question why do European Nations create a common goal and common interest? It is because they don’t want the super power nations like Russia, China or USA one day decided to attack them. You see , their aim is to secure each other from being such attack. If our Asian Nations don't prepare into this position ASAP then who knows we be going back to World War 1 and world war 2 and this means we are (in the 21st century) getting dumber and dumber. We Asian nations must learn from the past mistakes and turn it into a positive learning outcome! Don't try to get outsiders for help on how to build the relationships between Asian Nations because base on human instinct no one nation want other nation to be better off than them in any way, simple as! Otherwise they wouldn’t have this Englo Saxon in the first place. Englo Saxon includes; England, Canada, USA, Aust, NZ, and more, all have common goal and common interest. Asian Nations need to do the same and be smarter by now, OK, I’m far far away from home, I love you all, cheers
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