South Korean companies are keen to invest in Bangladesh, particularly in the energy, engineering, infrastructure, food-processing, and electronic sectors, said a top official of the Korea Trade-Investment Promotion Agency.
“Big Korean companies are interested to invest in Bangladesh as Bangladesh is a suitable place for investment as well as Bangladesh has been attaining 6 to 7 percent economic growth over the last six years,” said Jong Won Kim, director general of the agency.
He was addressing a press conference organised by the Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) at the Sonargaon hotel in Dhaka.
At least 150 Korean companies, including Samsung and LG, have presence in Bangladesh and large companies from South Korea will also come to Bangladesh, according to Kim.
“Bangladesh will be the next destination for the Korean companies for investment as our government is encouraging big companies to invest here.”
The Korean government is providing duty-free access to more than 3,000 products of Bangladesh.
Dong-jun Lee, deputy chief of mission of the Korean embassy in Dhaka, said his country is committed to developing economic relations between the two countries and working to reduce the trade gap with Bangladesh.
He sees a good future for trade and investment between the two nations.
Dong Kon Song, managing director of LG Electronics Bangladesh and vice-president of the KBCCI, said the LG was interested in manufacturing products, particularly refrigerators and smart TVs.
The LG has already established an assembly plant, the initial stage of a manufacturing plant, in Bangladesh, said Song.
The media briefing was organised to announce “Showcase Korea 2018”, which will be held at International Convention City Bashundhara at Purbachal in Dhaka from October 19-20.
The KBCCI and the Korean Embassy are jointly organizing the two-day show which will be participated by Korean companies and Bangladeshi importers and distributors of Korean products.
Electrical and electronic goods, automobiles, machinery, equipment and accessories, including those of textiles; cosmetics, chemicals, paper, fork-lifts, elevators, generators, food and beverages will be displayed, said Shahab Uddin Khan, senior vice-president of the chamber.
He said the latest electronic products of LG Bangladesh and Samsung Electronics would also be showcased.
Kia Motors, Hyundai Motors and SsangYong Motor will exhibit their latest models of cars. Some Korean companies which do not have offices or agents in Bangladesh are also coming to take part, said organizers.