Thailand, South Korea to step up bilateral cooperation

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KOREA  – At the 2019 ASEAN-Republic of Korea (ROK) Commemorative Summit in Busan, South Korea, Thailand’s Prime Minister and Defense Minister, Gen. Prayut Chan-o-cha, held bilateral talks with the South Korean President, Moon Jae-in, with both sides agreeing to enhance cooperation in increasing economic competitiveness, upgrading human capital and advancing the ASEAN Smart Cities Network (ASCN).

Prime Minister Prayut said he would like to thank South Korea for supporting Thailand during its ASEAN Chairmanship this year. He said South Korea has an important role in supporting the ASEAN Community and promoting cooperation in various fields. He praised South Korea’s New Southern Policy (NSP), which is in line with the government’s Thailand 4.0 policy.

The South Korean President said his government has supported the Thai government’s work policy and is ready to expand cooperation with Thailand, particularly in the areas of economy, human capital and ASCN.

Both leaders agreed to strengthen bilateral cooperation in all spheres of mutual interest.

Prime Minister Prayut said he would like South Korean investment in the Fourth Industrial Revolution (4IR) of the Eastern Economic Corridor (EEC). South Korea has expressed interest in investing in the automotive sector, electric vehicles (EVs), biotechnology, digital technology and robotics. The two countries are to expand cooperation in implementing the Boston Consulting Group (BCG) matrix, which focuses on the wise usage of natural resources and waste recycling.

The Thai Prime Minister and the South Korean President also witnessed the signing ceremony of three agreements, including a memorandum of understanding (MOU), between Thailand’s Ministry of Higher Education, Science, Research and Innovation and South Korea’s Ministry of Science and Technology, to promote cooperation in science, research and development. The Korea Trade-Investment Promotion Agency (KOTRA) and the EEC Policy Committee signed an agreement to support new business opportunities and industries using advanced technologies. Another MOU was signed by relevant agencies to promote the exchange of information to prevent Thai workers from working illegally in South Korea.