South Korea’s Gyeongbuk Technopark Sets Sights on Technology Park Collaboration in Cambodia

• 30 October 2024
• Local News
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The Gyeongbuk Technopark Korea Innovation Centre is exploring collaboration opportunities with Cambodia’s Ministry of Industry, Science, Technology, and Innovation (MISTI) to invest in a high-tech innovation hub in Cambodia, aligning with the nation’s strategic development goals in smart agriculture, health, and green technology.

This promising development was discussed on 28 October 2024 during a meeting between HE Hem Vandy, Cambodia’s Minister of MISTI, and Mr. Minjae Joung, President of the Gyeongbuk Technopark Centre.

Mr. Minjae Joung noted that the Gyeongbuk Technopark Centre specializes in technology-driven R&D and aims to support Cambodian industry growth by identifying priority sectors for investment from South Korea.

He expressed particular interest in establishing a manufacturing and testing facility for medical devices, a key area to enhance Cambodia’s growing medical technology landscape.

“Our center’s expertise aligns with Cambodia’s investment priorities, particularly in green technology, health technology, and smart agriculture,” he stated.

Responding to the interest, HE Hem Vandy emphasized Cambodia’s commitment to transitioning from a technology-using country to a technology-producing one. He welcomed Gyeongbuk Technopark’s potential contributions to this shift by supporting small and medium enterprises (SMEs) in agro-industry and export-oriented production.

The minister also encouraged the center to consider redirecting Korean technology investments from other markets to Cambodia, noting that while the country has a small market, it holds extensive access to ASEAN markets, the Regional Comprehensive Economic Partnership (RCEP), and various free trade agreements involving China, Korea, and other nations in the Middle East.

Furthermore, HE Hem Vandy advised the Gyeongbuk Technopark to utilize official investment channels and to seek dependable local partners, reassuring that the Ministry would provide active cooperation and facilitation for such projects.

Gyeongbuk Technopark, a prominent innovation center in South Korea, leads technology industry growth through robust R&D. It fosters collaboration between the private sector, research institutions, and government agencies, underscoring its potential role in Cambodia’s tech-driven future.

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