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Thailand and South Korea Forge Stronger Ties, Aim for $30 Billion Trade Relationship
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Thailand and South Korea have reaffirmed their commitment to deepening cooperation across multiple sectors, with a focus on boosting trade to $30 billion and fostering investment in key industries. The agreement came during a bilateral meeting on October 30, 2025, at the Hwabaek International Convention Center (HICO) in Gyeongju, Republic of Korea, between Thai Prime Minister Anutin Charnvirakul and South Korean President Lee Jae Myung, held during the APEC Economic Leaders’ Meeting.
The meeting, occurring during a period of national mourning in Thailand, was marked by mutual respect and a shared desire to strengthen the longstanding relationship between the two nations.President Lee Jae Myung expressed gratitude for Prime Minister Charnvirakul’s attendance at APEC and acknowledged Thailand’s historical support during the Korean War,noting the contribution of Thai soldiers. Both leaders conveyed their pleasure at the possibility for their frist face-to-face discussion, following President Lee’s congratulatory call to the Prime Minister upon his appointment.
Economic partnership Takes Center Stage
A central theme of the discussion was economic collaboration.Prime Minister Charnvirakul proposed a ambitious target of reaching $30 billion in bilateral trade,emphasizing the crucial role of Free Trade Areas (FTA) in achieving this goal. He urged relevant agencies to expedite the resolution of outstanding issues related to the FTA, signaling Thailand’s commitment to removing trade barriers.
“Thailand is dedicated to providing comprehensive support for South Korean investors,” a senior official stated, highlighting projects from major companies like Hyundai, COSMAX, and KakaoBank, wich are planning to establish branchless commercial banks within Thailand. Furthermore, the Korea Land & Housing Corporation (LH) is set to develop the first South Korean industrial estate in the country, representing a significant influx of foreign direct investment.
To further facilitate economic ties, the Thai Ambassador in Seoul will lead a delegation of South Korean business leaders to Thailand within the next two weeks to explore collaborative opportunities with the Thai private sector.Thailand has pledged to provide full support and convenience to thes visiting investors.
Did you know?-Thailand and South Korea first established diplomatic relations in 1958. The relationship has grown significantly, particularly in trade and investment, with South Korea becoming a major economic partner for Thailand.
cultural Exchange and Creative Economy Collaboration
Beyond trade and investment, the leaders discussed the growing cultural exchange between Thailand and South Korea. Prime Minister Charnvirakul acknowledged the widespread popularity of Korean culture, particularly K-Pop, among Thai citizens, with a growing number of Thai youth expressing interest in learning the Korean language.He lauded South Korea’s position as a global leader in content creation.
In response, Thailand will assign relevant agencies to study the South Korean content industry ecosystem, with a specific focus on supporting startups and small and medium-sized enterprises (smes) through skills development and financial assistance. This initiative aims to leverage South Korea’s expertise to bolster Thailand’s own creative economy.
Pro tip:-Thailand aims to learn from South Korea’s success in the content creation industry. Focusing on skills development and financial aid for startups and SMEs is key to boosting Thailand’s creative economy.
Regional Cooperation and Labor concerns
Thailand also reaffirmed its support for South Korea’s role as an ASEAN dialogue partner and its coordination of ASEAN-South Korea relations.This commitment underscores Thailand’s dedication to regional stability and cooperation.
Addressing a critical issue for Thai citizens, Prime Minister Charnvirakul requested President Lee Jae Myung’s consideration in increasing the quota for legal Thai workers in South Korea. He also raised concerns regarding instances of Thai nationals and tourists being denied entry upon arrival in Korea, resulting in financial losses and wasted time. A resolution to these issues is expected to be a priority in future discussions.
reader question:-Why is increasing the quota for Thai workers vital? It addresses labor needs in South Korea while providing economic opportunities for Thai citizens, fostering stronger people-to-people ties between the two nations.
The meeting concluded with a mutual commitment to strengthening the comprehensive partnership between Thailand and South Korea, paving the way for increased collaboration and
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