Cambodia’s Exports to Korea Skyrocket, Surging 2048% in 2023

• Sommana Yan
• 28 March 2024
• Local News
• 1409 Views

In a remarkable surge, Cambodia’s exports to the Republic of Korea soared to US$26.21 million in 2023, marking a staggering increase of 2048% compared to the previous year’s US$1.22 million. This substantial growth underscores the robust trade relationship between the two nations, facilitated by the CKFTA agreement.

The data, disclosed by the spokesperson of the Cambodian government during a high-level meeting between PM Samdech Hun Manet and Mr. Chang Dae-Whan, Chairman of the Board of Maekyung Media Group, alongside representatives from Samsung Electronics, Booyoung LS Group, and LX International on 27 March 2028, reflects Cambodia’s burgeoning export prowess.

Furthermore, Cambodia’s export momentum to the Korean market shows no signs of slowing down, with exports for the first two months of 2024 reaching US$8.53 million under the CKFTA agreement. This notable figure marks a substantial 286.9% increase compared to the same period in 2023, highlighting the sustained growth trajectory in bilateral trade.

The surge in exports to Korea aligns with Cambodia’s broader efforts to attract foreign investment and foster economic growth. Recent engagements, such as the visit of 13 Korean companies to Deputy PM Sun Chanthol to explore investment opportunities, underscore the mutual commitment to deepening economic ties and driving prosperity. (Read more)

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