Leading Korean business operators eye to increase investment in Thailand

BUSAN, SOUTH KOREA, December 11 (TNA) - Leading South Korean business persons become more interested in expanding their investment in Thailand, as visiting Thai Prime Minister General Prayut Chan-ocha told them that there are now plenty of investment opportunities in the Thai economy, including in border economic zones. Thai Government Spokesman Yongyuth Maiyalarp told TNA of the positive prospect on Thursday, the second-day visit to South Korea by the Thai prime minister to attend the ASEAN-Republic of Korea (ROK) Commemorative Summit 2014, held in Busan from December 10-12, marking the 25th anniversary of ASEAN-ROK relations. The spokesman stated, during the Thai premier's working breakfast earlier in the day with the key South Korean business operators, including representatives of Korean Trade and Investment Promotion Agency (KOTRA), K-water Co. and Lotte Hotel & Resort Co., which also operates duty-free shops and Hana Tour Service, the number one tour company in South Korea, as well as LG Electronics Co., transport and railway state enterprise KORAIL, Samsung Co., Hyundai Motor Co. and POSCO, the world's third largest steel producer, he invited South Korean investors to expand their businesses in Thailand, where there are now plenty of investment opportunities. According to the spokesman, the Thai prime minister told the South Korean business operators that Thailand is an important automobile production base in the Association of Southeast Asian Nations (ASEAN) and can, thus, serve South Korean automobile production, thanks to the Thai Kingdom's readiness in terms of infrastructure, markets and Korean popularity. The spokesman said the Thai prime minister also proposed that South Korean technologies be applied to increase the values of Thai farm and food products and South Korea import more Thai farm products, namely chicken, fruits, rice and natural rubber. Besides, the Thai prime minister invited South Korea to help develop five border economic zones in 18 Thai provinces adjacent to neighboring Myanmar, Cambodia, Laos and Malaysia. The Thai premier also told the leading South Korean business persons that Thailand plans to build double railway tracks, standard-gauge tracks and high-speed railways in the near future, noting that the Thai and South Korean sides' discussions on collaboration in such projects will be based on a previously-inked memorandam of understanding (MOU). (TNA)