The first MoU was signed between the Cambodia Chamber of Commerce (CCC) and the South Korean Chamber of Commerce and Industry.

The next three MoUs were signed by the National Bank of Cambodia (NBC) with JB Financial Group Co Ltd, KB Kookmin Bank Co Ltd and Woori Bank to promote cross border QR payments and remittance for migrant workers.

The fifth agreement was inked by the Credit Bureau (Cambodia) Co Ltd with the Korea Credit Bureau (KCB) and the Jeonbuk Bank Co Ltd on cross-border credit report sharing, while the sixth MoU was signed between the Worldbridge Group of Companies and Daewoo E&C.

Cambodia-South Korea trade volume reached nearly $751 million last year, ranking 11th among Cambodia’s trading partners, while the latter’s foreign direct investment (FDI) in the former was worth $30 million, ranking ninth and taking the total FDI from South Korea to $5 billion, Manet said while chairing the forum.

The prime minister emphasised that a free trade agreement signed between the two countries in December 2022 will pave the way for South Korean businessmen to invest and trade with Cambodian companies and benefit from the incentives offered by the Cambodian government, Cambodian media outlets reported.

Fibre2Fashion News Desk (DS)