Arya News - The meeting focused on strengthening and expanding economic cooperation between the chambers of commerce of the two countries.
PHNOM PENH – The business communities of Cambodia and South Korea have pledged to strengthen their strategic partnership by promoting bilateral trade and encouraging new investment, as two-way trade between the two countries reached nearly $600 million in the first half of 2026.
The commitment was made during a July 19 meeting between Kith Meng, president of the Cambodia Chamber of Commerce (CCC) and chair of the ASEAN Business Advisory Council (ASEAN-BAC) Cambodia, and Kim Seong-su, president of the Korean Chamber of Commerce in Cambodia (KOCHAM).
The meeting focused on strengthening and expanding economic cooperation between the chambers of commerce of the two countries.
During the meeting, both sides exchanged views and discussed key strategies to enhance business connectivity between Cambodian and South Korean companies. They also agreed to establish a sustainable cooperation mechanism to support private sector development in both countries.
“This meeting reflects the shared commitment of the CCC and KOCHAM to strengthen our strategic partnership, promote bilateral investment and trade, and create new opportunities for the business communities of both countries, thereby contributing to Cambodia’s inclusive and sustainable economic development,” noted Meng.
During the meeting, KOCHAM confirmed that it would participate in all 16 working groups of the Government-Private Sector Forum (G-PSF), coordinated by the CCC to contribute to discussions on key policy and economic agenda items, including investment, trade, industry and human resource development.
As an outcome of the meeting, the two sides agreed to sign a memorandum of understanding (MoU) in the near future to strengthen practical cooperation in priority areas.
According to the General Department of Customs and Excise (GDCE), South Korea was Cambodia’s 11th-largest trading partner during the January-June period. Total bilateral trade reached $599.73 million, an increase of 36.8% compared with the first half of 2025.
Cambodia exported $209.81 million worth of goods to South Korea, up 38.2%, while imports totalled $389.92 million, an increase of 36.1%.
Hong Vanak, an economist at the Royal Academy of Cambodia, told The Post on July 20 that the simultaneous growth in exports and imports between Cambodia and South Korea reflects the effective implementation of both the Cambodia-Korea Free Trade Agreement (CKFTA) and the Regional Comprehensive Economic Partnership (RCEP), of which both countries are members.
He noted that the Cambodian government has consistently promoted and encouraged South Korean investors to either invest directly in Cambodia or establish business partnerships with Cambodian enterprises.
“The positive growth in bilateral merchandise trade demonstrates the effectiveness of the free trade agreements and the Kingdom’s increasing production capacity,” he said.
According to Vanak, the Cambodian government encourages South Korean investors to establish businesses and invest directly in Cambodia, particularly in sectors such as modern agriculture, food processing, automotive manufacturing, electronics and digital technology.
In 2025, bilateral trade between Cambodia and South Korea reached approximately $923.05 million, up 9.8% from 2024. Exports totalled $326.78 million, an increase of 2.3%, while imports from were valued at $596.27 million, up 14.4%, according to the GDCE.