South Korean investors show interest in Thai industrial estates
State authority says it is working actively to facilitate these investments estimated at around $500 million
The Industrial Estate Authority of Thailand (IEA) has reported significant interest from South Korean investors in various sectors, including solar energy, electric vehicles (EVs), steel, and energy.
The total investment value from these South Korean investors is estimated to exceed US$500 million.
Yuthasak Supasorn, chairman of the board of directors of the IEA, revealed that South Korean companies were keen to leverage Thailand's strategic location and supportive business environment. Several key areas of interest have been identified:
- Solar energy: South Korean investors are exploring opportunities in solar energy projects, aligning with Thailand's commitment to carbon neutrality.
- Electric vehicles: The growing demand for EVs has attracted South Korean companies to consider Thailand as a production hub for the ASEAN market.
- Steel: Existing South Korean steelmakers operating in Thailand are planning to expand their investments, particularly after the transfer of energy and other businesses in 2024.
- Smart Park Industrial Estate: South Korean investors are interested in developing various businesses, including energy and medical services, within this industrial estate.
The IEA said it was actively working to facilitate these investments by providing support services, such as coordinating with relevant government agencies and streamlining regulatory processes.
As Thailand continues to position itself as a regional manufacturing and logistics hub, the influx of foreign direct investment from South Korea is expected to further bolster its economic growth and development.
