The Korea Trade-Investment Promotion Agency (Kotra) has brought about 100 Korean companies to Thailand to look for local business partners.
As part of their search, the companies are attending the two-day "K-Expo in Bangkok 2023" event at the Queen Sirikit National Convention Center that ends today.
Yu Jeoung-yeol, Kotra president and CEO, said the companies are looking to promote their consumer and industrial products and services in Thailand and Southeast Asia.
Mr Yu said the bilateral trade volume between Thailand and South Korea reached a record high of US$60.5 billion (2 trillion baht) last year. About 400 Korean companies have investments in Thailand in numerous industries such as electronics, steel and auto parts.
He also spoke of tourism initiatives between the two nations. "Thailand is also one of the most preferred travel destinations for Koreans. The Visit Thailand-Korea Year 2023-2024 will further promote tourism between the two countries," he said.
This year, the Thai government expects to welcome about 1.3 million visitors from South Korea, up from 500,000 visitors last year.
Mr Yu said Korea and Thailand established diplomatic relations in October 1958, and this year marks the 65th anniversary.
"I hope the strong relationship between our two countries will continue for a long time to come, and today's event will further vitalise the bond in this rapidly changing environment," said Mr Yu.
Nattapol Rangsitpol, Thailand Industry Ministry Permanent Secretary, said Korean investment value in Thailand is growing. A record of the Board of Investment (BoI) showed that it approved 65 billion baht in investment projects from 365 South Korean companies from 2012 to 2022.
Most of the investments are in electronic products, machinery and chemicals, he said, adding that the government expects to welcome more investors from the East Asian nation.
