{"id":2205133,"date":"2024-05-17T08:00:09","date_gmt":"2024-05-16T23:00:09","guid":{"rendered":"https:\/\/koreapro.org\/?p=2205133"},"modified":"2024-05-16T18:32:47","modified_gmt":"2024-05-16T09:32:47","slug":"south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/","title":{"rendered":"South Korea and Cambodia forge strategic partnership to boost ties"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea and Cambodia agreed to establish a <\/span><a href=\"https:\/\/www.president.go.kr\/newsroom\/briefing\/pBFSYHC6\"><span style=\"font-weight: 400;\">strategic partnership<\/span><\/a><span style=\"font-weight: 400;\"> to expand cooperation in defense, trade and infrastructure during a summit between South Korean President Yoon Suk-yeol and Cambodian Prime Minister Hun Manet in Seoul on Thursday. The partnership includes plans for a South Korean naval vessel to call at a Cambodian port later this year and increased collaboration in peacekeeping operations and against transnational crimes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The two leaders also signed agreements to boost economic ties through a bilateral free trade agreement and to promote cooperation in social, cultural and development sectors. South Korea will increase its loan to Cambodia from $1.5 billion to $3 billion through the Economic Development Cooperation Fund and extend the provision period from 2022 to 2026 to 2022 to 2030. The countries also reaffirmed their commitment to international peace, security, free trade and the rule of law.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">South Korea\u2019s strategic partnership with Cambodia reflects Yoon\u2019s commitment to prioritizing Southeast Asia under the country\u2019s <\/span><a href=\"https:\/\/www.nknews.org\/wp-content\/uploads\/2022\/12\/ROK-Indo-Pacific-Strategy-Dec-2022.pdf\"><span style=\"font-weight: 400;\">Indo-Pacific Strategy<\/span><\/a><span style=\"font-weight: 400;\">. As the cost of doing business in <\/span><a href=\"https:\/\/koreapro.org\/2023\/06\/south-koreas-largest-economic-delegation-heads-to-vietnam-under-yoons-lead\/\"><span style=\"font-weight: 400;\">Vietnam<\/span><\/a><span style=\"font-weight: 400;\">, South Korea&#8217;s third-largest trading partner, continues to rise, Seoul is diversifying its investments in other Association of Southeast Asian Nation countries. Cambodia, with its low wage rates and growing working-age population, provides an attractive alternative for South Korean companies seeking to meet <\/span><a href=\"https:\/\/koreapro.org\/2023\/01\/how-investing-in-cambodia-can-help-south-korea-balance-against-china\/\"><span style=\"font-weight: 400;\">carbon neutrality goals<\/span><\/a><span style=\"font-weight: 400;\"> while remaining competitive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The agreement to double South Korea\u2019s loan to Cambodia from $1.5 billion to $3 billion through the Economic Development Cooperation Fund will likely create new business opportunities for South Korean companies. For instance, South Korean companies may gain access to new business opportunities, such as infrastructure contracts. Additionally, the move will also likely strengthen bilateral ties and expand Seoul\u2019s economic and political influence in Southeast Asia.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/defense-security\/\"><span class=\"tag\">Defense &amp; Security<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea and Cambodia agreed to establish a strategic partnership to expand cooperation in defense, trade and infrastructure during a summit between South Korean President Yoon Suk-yeol and Cambodian Prime Minister Hun Manet in Seoul on Thursday. The partnership includes plans for a South Korean naval vessel to call at a Cambodian port later this [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2205134,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,26,28],"class_list":["post-2205133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-defense-security","tag-inter-korean-foreign-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea and Cambodia forge strategic partnership to boost ties - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea and Cambodia forge strategic partnership to boost ties - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea and Cambodia agreed to establish a strategic partnership to expand cooperation in defense, trade and infrastructure during a summit between South Korean President Yoon Suk-yeol and Cambodian Prime Minister Hun Manet in Seoul on Thursday. The partnership includes plans for a South Korean naval vessel to call at a Cambodian port later this [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-16T23:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-16T09:32:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2024\/05\/eb-8.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1870\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"South Korea and Cambodia forge strategic partnership to boost ties\",\"datePublished\":\"2024-05-16T23:00:09+00:00\",\"dateModified\":\"2024-05-16T09:32:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/\"},\"wordCount\":293,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2024\/05\/eb-8.png\",\"keywords\":[\"Business &amp; Economy\",\"Defense &amp; Security\",\"Inter-Korean &amp; Foreign Relations\"],\"articleSection\":[\"Briefings\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/\",\"url\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/\",\"name\":\"South Korea and Cambodia forge strategic partnership to boost ties - KOREA PRO\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2024\/05\/eb-8.png\",\"datePublished\":\"2024-05-16T23:00:09+00:00\",\"dateModified\":\"2024-05-16T09:32:47+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/#primaryimage\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2024\/05\/eb-8.png\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2024\/05\/eb-8.png\",\"width\":1870,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/koreapro.org\/2024\/05\/south-korea-and-cambodia-forge-strategic-partnership-to-boost-ties\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/koreapro.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South Korea and Cambodia forge strategic partnership to boost ties\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/koreapro.org\/#website\",\"url\":\"https:\/\/koreapro.org\/\",\"name\":\"KOREA PRO\",\"description\":\"Be smart about South Korea. 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