Korea Seeks Cooperation to Invest in Technology Park in Cambodia

• 30 October 2024
• Local News
• 164 Views

The Gyeongbuk Technopark Korea Innovation Center is keen to collaborate with the Ministry of Industry, Science, Technology, and Innovation to establish a technology park in Cambodia. This was discussed during a meeting between HE Hem Vandy, Minister of Industry, and Mr. Minjae Joung, President of the Gyeongbuk Technopark Center, on October 28, 2024.

During the meeting, Mr Minjae Joung highlighted that his centre specializes in technology research and development. His visit to Cambodia aims to understand the country’s priority investment areas from the Republic of Korea.

He emphasized that the expertise of the Gyeongbuk Technopark Center aligns well with Cambodia’s priorities, particularly in smart agricultural technology, health technology, and green technology. Additionally, he expressed interest in collaborating to establish a medical device manufacturing and testing centre to enhance medical technology in Cambodia.

In response, HE Hem Vandy noted that Cambodia is transitioning from being a technology-using country to becoming a technology-producing country. He welcomed the potential cooperation to establish a technology centre that could support small and medium enterprises, especially in agro-industry and production aimed at exports.

The Minister also encouraged the Gyeongbuk Technopark Center to consider redirecting Korean investments in technology from other countries to Cambodia. He pointed out that while Cambodia is a small market, it benefits from access to the ASEAN market, the Regional Comprehensive Economic Partnership (RCEP), and various free trade agreements involving nations like China, Korea, and others from the Middle East.

Furthermore, HE Hem Vandy urged the Center to utilize official investment mechanisms and seek reliable local partners, assuring them that the Ministry is ready to cooperate and facilitate the process.

Gyeongbuk Technopark is a leading innovation centre in South Korea that supports the growth of technology-based industries through research, development, and collaboration between the private sector, research institutions, and government agencies.

• Technology and Engineering
• Cooperation and networking