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Phnom Penh, March 28, 2024 - Deputy Prime Minister Sun Chanthol, who is also the First Vice President of the Council for the Development of Cambodia, welcomed representatives from five different South Korean companies for discussions on investment opportunities in Cambodia. This meeting underscores the growing interest of South Korean investors in the Cambodian market and highlights the nation's readiness to facilitate foreign investment.

The discussions, which took place at the CDC headquarters, centered around the various sectors where these companies are actively investing or considering investments. The companies represented at this meeting were from diverse fields, indicating the wide range of opportunities available in Cambodia.

Hyundai Motor, represented by Mr. Eui-sun Chung, is a giant in the automotive industry, manufacturing a broad array of vehicles including family cars, trucks, buses, SUVs, MPVs, and electric models. The company has a presence in Cambodia through its subsidiary, Camko Motor Co., Ltd., which has been successfully operating a factory for assembling and producing electric components in the Sihanoukville Special Economic Zone since 2009.

CJ Group, under the leadership of Mr. Kyung-shik Sohn, is a conglomerate providing services in food and food service, entertainment and media, bio-pharma, and retail and logistics. CJ Group is a major South Korean enterprise expanding its business portfolio across various sectors, including animal feed processing in Cambodia.

DAEJOO KC Group, led by Mr. Joo-Bong Park, operates across industries such as steel, electronics, chemicals, automotive and aerospace, and construction and energy. Its Cambodian affiliate, CAMKO INFRACORE CO., LTD, established in 2016, has been successfully delivering maintenance services for Hyundai vehicles, selling car parts, and distributing Korean beauty products in Cambodia.

Booyoung Group, with Mr. Hee-beom Lee at the helm, is involved in numerous sectors including real estate, education, telecommunications, banking, and infrastructure. Although specific investments in Cambodia were not detailed, the group's diverse interests suggest potential for significant projects.

Maekyung Media Group, chaired by Dr. Chang Dae-Whan, is one of South Korea's largest media networks, covering every aspect of media from newspapers to television, magazines, and digital platforms. While the group currently has no operations in Cambodia, the meeting opened avenues for future media and communication investments.

During the meeting, Deputy Prime Minister Sun Chanthol outlined the compelling reasons why Cambodia is an attractive destination for investment, citing the country's stable political and economic environment, a young and productive workforce, and a commitment to improving infrastructure. He also emphasized the importance of Cambodia's free trade agreements and the openness of its investment law, which provide significant incentives and ease of doing business for foreign investors.

This engagement with South Korean companies is a testament to Cambodia's open and welcoming stance towards foreign investment and its commitment to fostering an environment conducive to economic growth and development.



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