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PM Hun Manet Oversees Key Agreements with South Korean President Yoon Suk Yeol

SEOUL, REPUBLIC OF KOREA 16 May 2024 — In a significant diplomatic event held in Seoul on the morning of Thursday, May 16, 2024, Cambodian Prime Minister Mr. Hun Manet, alongside the President of the Republic of Korea, Mr Yoon Suk Yeol, presided over the signing ceremony of several pivotal agreements aimed at enhancing bilateral cooperation between the two nations.

The ceremony marked the signing of six major documents, each fostering various sectors of development and cooperation:

1. Protocol on the Amendment of the Project Framework for 2022-2026 - This amendment under the Economic Development Cooperation Fund aligns with new financial strategies between the two governments to propel economic growth.

2. Memorandum of Understanding on Investment Cooperation - Signed between the Council for the Development of Cambodia and South Korea’s Ministry of Commerce, Industry and Energy, this MoU aims to elevate investment flows and industrial collaboration.

3. Memorandum of Understanding on Intellectual Property - This agreement between the Ministry of Commerce of Cambodia and the Intellectual Property Unit of South Korea intends to strengthen the framework of intellectual property management and protection.

4. Letter of Intent on Drug Management - This initiative involves the General Department of Customs and Excise of Cambodia and the Customs Administration of South Korea, focusing on bolstering the capabilities of drug regulation and control.

5. Memorandum of Understanding on Skills and Talent Development - In cooperation with the Korea International Cooperation Agency, this program is designed to enhance professional skills and workforce capabilities in Cambodia.

6. Concessional Loan Agreement for Rural Road Improvement - The Phase 4 project, facilitated through a loan from the Export-Import Bank of Korea, will significantly improve rural infrastructure, thereby enhancing mobility and economic opportunities in the countryside.

The signings signify a deepening of ties and mutual commitment to development and prosperity between the Republic of Korea and the Kingdom of Cambodia, reflecting a strategic partnership that spans multiple facets of governance and development initiatives.

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