Korean business leaders to invest in Thailand

Prime Minister Prayut Chan-o-cha invited on Thursday leading Korean business leaders to invest in Thailand and the Dawei special economic zones project in Myanmar.

He was speaking on the sideline of Asean-South Korea Summit in South Korea's Busan city that there are many investment opportunities in Thailand. He invited them to invest in 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 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.

Thailand would build double railway tracks, standard-gauge tracks and high-speed railways and both countries should discuss collaboration in such projects.