Board of Investment team woos investors in Korea
South Korean investors have high potential to boost Thailand’s competitiveness in the global market, Board of Investment (BOI) secretary general Narit Therdsteerasukdi said on Monday.
Narit made the remark during a roadshow in Seoul to attract investment and showcase Thailand’s readiness to be a hub for manufacturing and services, technology research and development, digital solutions and skilled labour in ASEAN.
Joining the BOI team at the Thai Embassy in Seoul were the Export-Import Bank of Thailand, PTT, B.Grimm Power, CPF Food Network, Amata Corporation, WHA Corporation and 304 Industrial Park.
Narit said more than 160 South Korean firms attended the board’s forum to boost awareness on new investment-promotion measures and opportunities to collaborate with Thai companies.
South Korean attendees came from automobile, electronics, electrical-appliance, digital, medical biotechnology and clean-energy industries, he said, adding that the forum resulted in more than 20 business matchings.
Narit said four leading companies in South Korea have plans to invest in Thailand. Of them, automaker Hyundai Motor aims to procure vehicle components in Thailand and expand investment in charging stations.
Property developer Korea Land & Housing Corp plans to collaborate with the Industrial Estate Authority of Thailand and Thai private agencies on the development of an industrial estate in the kingdom supporting South Korean companies.
The company is also interested in a land-bridge project that would serve as a link between the Pacific and Indian oceans in the South of Thailand.
Biotech company SK Bioscience plans to develop and produce vaccines for containing epidemics in Thailand and use the country as a base for exporting vaccines to other ASEAN countries.
Another biotech company, CJ BIO, is interested in collaborating with public agencies on improving regulations on pet-food recipes to ensure sustainability in Thailand’s export of processed meat. The company is also interested in other businesses, such as bioplastics.
“South Korea is a leader of high technology in many industries, such as automotive, semiconductors, electronics, batteries, digital, biotechnology and soft power,” Narit said.
He added that South Korea’s potential meets Thailand’s goal to attract investments in new S-curve industries to enhance the country’s competitiveness.
From 2019 to June 2024, South Korean companies have requested investment support from the BOI on 148 projects worth more than 62.7 billion baht.
These investment projects include Samsung’s electrical-appliance manufacturing worth more than 31 billion baht, Harman’s audio component manufacturing worth more than 4 billion baht, and Hyundai Motor’s electric-vehicle and battery manufacturing worth more than 1 billion baht.
