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| Cartoon by Sacrava (on the web at http://sacrava.blogspot.com) |
Showing posts with label S Korean investment in Cambodia. Show all posts
Showing posts with label S Korean investment in Cambodia. Show all posts
Thursday, April 26, 2012
Sacrava's Political Cartoon: The Korean
Cambodia offers new opportunities
04-25-2012
By Pae Ki-pyo
The Korea Times
By Pae Ki-pyo
The Korea Times
I heard the following opinion from an acquaintance, a vice president of a Cambodian commercial bank, on a business trip to the Southeast Asian country last month.
``Why is it difficult to find regional specialists on Cambodia in Korea, one of the largest foreign investors in Cambodia? The key success factor for entry to Cambodia, an amazing market, is localization,” he said.
``Korean corporations that I observed and experienced at a working-level saw a decline in efficiency and stability in establishing and managing their foreign business compared with major investors such as Japan, Singapore, and Malaysia.’’ This was because of a lack of localization.”
Korea established diplomatic relations with Cambodia in 1997. The cumulative investment amounted to nearly $3.9 billion as of late 2010. The biggest yearly investment, $1.27 billion, was recorded in 2010.
Wednesday, May 06, 2009
Cambodian PM to visit S Korea early next month
PHNOM PENH, May 6 (Xinhua) -- Cambodian Prime Minister Hun Sen will visit South Korea early next month in the hope of strengthening bilateral ties and cooperation, a government official said here Wednesday.
Hun Sen will meet with South Korean President Lee Myung-bak to discuss investment, tourism and trade cooperation, said Koy Kong, spokesman and undersecretary of state of the Ministry of Foreign Affairs and International Cooperation.
Prior to his presidency, Lee Myung-bak once worked as economic advisor for Hun Sen, which helped establish deeply-rooted friendship between the two.
"Cambodia needs more investment from South Korea, and also urges those who have already invested here to speed up development of their projects," the spokesman said.
South Korean investors started to build skyscrapers in Phnom Penh last year, which are expected to become future landmarks of the capital city.
However, most of these projects have recently become stranded due to shortage of funds and the global financial crisis.
In 2007, South Korea became the largest foreign investing country in Cambodia, according to official statistics.
Hun Sen will meet with South Korean President Lee Myung-bak to discuss investment, tourism and trade cooperation, said Koy Kong, spokesman and undersecretary of state of the Ministry of Foreign Affairs and International Cooperation.
Prior to his presidency, Lee Myung-bak once worked as economic advisor for Hun Sen, which helped establish deeply-rooted friendship between the two.
"Cambodia needs more investment from South Korea, and also urges those who have already invested here to speed up development of their projects," the spokesman said.
South Korean investors started to build skyscrapers in Phnom Penh last year, which are expected to become future landmarks of the capital city.
However, most of these projects have recently become stranded due to shortage of funds and the global financial crisis.
In 2007, South Korea became the largest foreign investing country in Cambodia, according to official statistics.
Wednesday, May 07, 2008
Mu Sochua: South Korean investment didn't bring much to the nation's poor
Yonwoo's Gold Tower 42 does not bring much benefit to Cambodia's poorBy Mean Veasna, VOA Khmer
Original report from Phnom Penh
06 May 2008
More than a decade of strong ties between Cambodia and South Korean have meant a boon to economic development, Prime Minister Hun Sen said Tuesday.
“Now, after 11 years, diplomatic relations with the Republic of Korea are remarkably developed,” he said, speaking at the inauguration of a construction project on National Road 3, which is being financed through a Korean grant.
South Korea is at the forefront of at least eight sectors, he said, including investment and tourism. He also pointed to the construction of Gold Tower 42, a proposed skyscraper scheduled to be constructed in Phnom Penh by 2011, as a sign of strong investment.
“Soon, construction of a building of 42 floors will be invested by the Koreans, and there will be another 55 floors,” he said.
South Korea has invested in building construction, information technology, aviation, tourism and textile. Investment worth $152 billion came for the country in 2007, according to the Council for the Development of Cambodia.
But opposition officials cautioned against measuring Cambodia’s worth only in investment. Mu Sochua, deputy secretary of the Sam Rainsy Party, said that not even Korean investment had brought much to the nation’s poor.
“Now, after 11 years, diplomatic relations with the Republic of Korea are remarkably developed,” he said, speaking at the inauguration of a construction project on National Road 3, which is being financed through a Korean grant.
South Korea is at the forefront of at least eight sectors, he said, including investment and tourism. He also pointed to the construction of Gold Tower 42, a proposed skyscraper scheduled to be constructed in Phnom Penh by 2011, as a sign of strong investment.
“Soon, construction of a building of 42 floors will be invested by the Koreans, and there will be another 55 floors,” he said.
South Korea has invested in building construction, information technology, aviation, tourism and textile. Investment worth $152 billion came for the country in 2007, according to the Council for the Development of Cambodia.
But opposition officials cautioned against measuring Cambodia’s worth only in investment. Mu Sochua, deputy secretary of the Sam Rainsy Party, said that not even Korean investment had brought much to the nation’s poor.
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