Korean business views Thailand as investment magnet

SEOUL, July 3 (TNA) – Leading South Korean businesspersons view Thailand as an attractive investment spot, and some plan to shift their production bases into the country, according to Industry Minister Chanchai Chairungruang.
 
Speaking during a road show in the South Korean capital, Mr. Chanchai said the Board of Investment (BoI) opened its 11th overseas office in Seoul to show its intention to persuade South Korean companies with growth potential to invest in Thailand.
 
Mr. Chanchai said he met and discussed with South Korean Knowledge Economy Minister Lee-Youn Ho and top executives of leading Korean companies regarding investment opportunities in South Korea and Thailand.
 
Most South Korean businesses still see Thailand as an active option for investment, particularly in the electrical appliance and electronics industries.
 
Some Korean electronic parts producers plan to move their production bases to Thailand soon and are due to apply for BoI investment promotions.
 
Minister Chanchai said the South Korean minister suggested Thailand accelerate keeping Korean investors informed of the health of its economy and policy on investment promotions.
 
The Korean minister proposed establishing an industrial estate in Thailand dedicated to South Korean investor needs. Such an undertaking could become an investment magnet among Korean investors                                           
 
The minister also affirmed Korean contractors’ readiness to take up construction of mega-projects in Thailand.
 
In the past two years, Mr. Chanchai said, Koreans had invested significantly in Thailand, particularly in the electrical appliances and electronics industry.
 
Last year, Korean investment groups sought BoI investment promotions for 49 projects with total investment of more than Bt4.3 billion in the electrical appliances and electronics, ceramics, mining, and service industries. (TNA)