BOI woos third wave of South Korean investors with road show in Seoul
The Office of the Board of Investment (BOI) held a road show in Seoul on Tuesday, aiming to attract South Korean businesses to invest in electric vehicles and chip-making in Thailand as well as to develop medical technologies in the kingdom.
Narit Therdsteerasukdi, secretary-general of the BOI, said the road show was held as a seminar under the theme “Thailand Investment Promotion Strategy: New Economy, New Opportunities”.
He said the Industrial Estate Authority of Thailand and two leading corporations of Thailand — PTT Plc and CP Group — also participated in the road show.
He said representatives from over 180 South Korean firms attended the seminar.
Currently, there are about 400 South Korean investors in Thailand, including big corporations, such as Samsung, LG, Posco, Hansol Electronics and Hanwa.
Narit said these giant corporations were the first wave of investors from South Korea to invest in Thailand about 30 years ago.
He said after these firms established their companies in Thailand, they brought along suppliers and partners to become the second wave of South Korean investors in Thailand.
During the past 15 years, South Korean firms have ploughed in about 5 billion baht worth of investment each year in an average of 30 new investment projects, Narit added.
Narit said South Korean investors may also be interested in creative industries after seeing the cooperation between CP Group and SM Entertainment and CJ Entertainment from South Korea.
He said the BOI has pointed out to South Korean investors that they could use Thailand’s strategic location and advanced infrastructure in the Eastern Economic Corridor.
He added that South Korean companies could also benefit from Thailand's membership of the Regional Comprehensive Economic Partnership, a grouping of 15 countries, to export to member countries.
In addition, Thailand could provide clean energy to South Korean industries so they could reach their carbon neutrality goals.
“With all of these qualifications, Thailand could be a gateway for South Korean companies to Asean nations,” Narit said.
He said South Korean investors who have established bases in Thailand could also set up their regional headquarters or product research centres in the kingdom.
The BOI representatives would later meet South Korea’s EV and semiconductor makers to talk about investments in Thailand, he said.
