South Korea’s Investment in Cambodia Reaches US$5.7 billion, Becomes Second Biggest Foreign Investor

• 26 December 2020
• Local News
• 2901 Views

The Republic of Korea’s investment in Cambodia has reached US$5.7 billion, now standing as the second highest foreign investment in the Kingdom; a large proportion of which has been used for infrastructure development projects.

Ambassador of the Republic of Korea to Cambodia HE Park Heung-Kyeong revealed the data during his meeting with the President of the Senate of Cambodia Samdech Say Chhum on 25 December.

According to Press OCM, from 2019 to 2020, South Korean aid for infrastructure projects in Cambodia has increased from US$350 to US$700 million. Those projects include but are not limited to the funds for the restoration of NR 22, NR 2, and NR 48. (Read more)

However, when counting all development projects, as of November 2019, South Korea has provided a total of US$889 million for 23 projects, of which only approximately US$442 million was spent. Meanwhile, South Korea has already agreed to provide Cambodia with another US$700-million loan from 2019 to 2023.  (Read more)

The South Korean government through the Korea International Cooperation Agency (KOICA) recently is also considering transforming a former war zone in Pailin province into a new development area. (Read more)

• Business and Market
• Policy and Strategy
• Investment and Funding