Ambassador expects more S Korean investment to Cambodia

PHNOM PENH, June 19 (Xinhua) -- South Korean ambassador to Cambodia Shin Hyun-suk has said that he expected more investment from his country to the kingdom, local media reported Thursday.

"I am optimistic about further (South) Korean investment (to Cambodia)," Shin Hyun-suk told the Mekong Times in an interview.

In 2007, Cambodia became the 6th biggest host of South Korean investment after China, the U.S., China's Hong Kong region, Vietnam and Malaysia, he said.

"Recently, some South Korean investors who had invested in China and Vietnam have been moving into Cambodia. With this trend, South Korean investment in Cambodia has been diversified," he added.

Initially, South Korean investment was concentrated on the garment manufacturing sector, he said, adding that banking, agro-industry, manufacturing, real estate development and IT sectors are the dominating fields of South Korean investment in Cambodia now.

Beginning in the late 1990s, South Korean investors began to look at Cambodia as the country regained political and social stability, Shin Hyun-suk said.

In particular, South Korean investment in Cambodia has increased sharply since 2006, as Cambodia recorded high economic growth and achieved further political and social stability, he added.