The initiation of business negotiations and investment consultations between Thailand and Korea is a new strategy employed by the Board of Investment (BOI) of Thailand to stimulate a new wave of investments in the country, targeting industries of mutual interest.
Industries where Korea excels, such as electric vehicles (EV), semiconductors, automation systems, biotechnology, digital industries - particularly game development and intelligent systems for Smart Cities, including creative industries - are of interest. Thailand, due to its strategic geographic location, efficient logistics connections with various countries, high-quality infrastructure especially in the Eastern Economic Corridor (EEC), home to numerous Korean companies, and a comprehensive supply chain, is well-prepared and possesses significant potential for these investments.
Furthermore, the Thai government has supportive measures and benefits for potential investors, the capability to supply clean energy to industries, helping leading Korean companies to achieve their carbon neutrality goals. It also takes advantage of the Regional Comprehensive Economic Partnership (RCEP), to which Thailand is a signatory.
This facilitates Thailand's role as a bridge connecting Korean investors with the ASEAN region, attracting investments in manufacturing industries. Existing Korean companies with manufacturing bases in Thailand see opportunities and advantages in establishing regional headquarters, research and development centers in Thailand, prepared with the necessary workforce to support these business ventures. This will enhance the efficiency and long-term stability of the Korean business base in Thailand.
Major companies or the Chaebol groups from Korea, such as Samsung, LG Corporation, POSCO, Hanwha Group, and Hansol Group, have led the first wave of Korean investments in Thailand for over 30 years and continue to expand their investments. Presently, more than 400 Korean companies have invested in Thailand over the past 15 years, with ongoing investment projects averaging 30 projects per year, equivalent to an investment of approximately 5 billion baht per year.
Source: Office of the Prime Minister, Government House
Tel. +66 2280 9000
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