Phnom Penh (FN), Jan. 3 – Cambodian prime minister Hun Sen said that Cambodia-South Korea ties have grown remarkably.

The premier spoke at the groundbreaking ceremony for the upgrading of National Road No. 48 project on Monday, which he co-chaired with South Korean ambassador to Cambodia Park Heung-Kyeong.

"I hope that South Korea will continue to assist Cambodia, in particular, the friendship bridge that will link Phnom Penh across the Mekong River to Kandal province’s Arey Ksat area. Korea’s aids reflects Cambodia-South Korea solidarity. Hopefully, the trade volume between the two countries and the number of Cambodian migrant workers to South Korea will continue to increase,” the premier underlined.

On that occasion, ambassador Park Heung-Kyeong said that under the wise leadership of premier Hun Sen, Cambodia-South Korea relations have become closer from time to time since the diplomatic reestablishment in 1997.

Bilateral trade volume between the two countries reached USD1 billion in 2019, increased by 19 times compared to 1997.

From 2004 to 2019, Korean investment in Cambodia was worth approximately about USD 4.4 billion. In October 2021, Korea and Cambodia signed a final free trade agreement, which paves ways for further growth in trade and investment.

“From 2001 to the end of 2021, the Republic of Korea has provided many concessional loans to Cambodia through EDCF with the total amount of USD 1.2 billion for the development of key sectors including transportation, water resources, wastewater management, health, and emergency response to the epidemic (COVID19),” according to the Korean Embassy in Phnom Penh.

“The Republic of Korea will further strengthen cooperation with the Royal Government of Cambodia, and expand areas of assistance to energy, agriculture, and telecommunications.”
=FRESH NEWS