[🇧🇩] Partnership Between Bangladesh And South Korea

[Saif]

Prof Yunus congratulates new South Korean President

Chief Adviser Professor Muhammad Yunus on Wednesday congratulated Lee Jae-Myung on his election as the new South Korean president. In a message sent to Jae-Myung, the Chief Adviser said on behalf of the Government and the people of Bangladesh, and on his own behalf, he extends his warmest congratu

thefinancialexpress.com.bd

Prof Yunus congratulates new South Korean President

Published :
Jun 05, 2025 00:03
Updated :
Jun 05, 2025 00:03

Chief Adviser Professor Muhammad Yunus on Wednesday congratulated Lee Jae-Myung on his election as the new South Korean president.

In a message sent to Jae-Myung, the Chief Adviser said on behalf of the Government and the people of Bangladesh, and on his own behalf, he extends his warmest congratulations to Jae-Myung on his election as the President of the Republic of Korea, UNB reports.

“Your victory reflects the deep trust and confidence that the people of Korea have placed in your leadership and vision for the nation. We wish you great success in fulfilling the aspirations of your citizens and in leading your country towards continued peace, prosperity, and stability,” said the Chief Adviser.

The Chief Adviser, in his message, mentioned that Bangladesh and the Republic of Korea share a longstanding relationship rooted in mutual respect, friendship, and shared values, according to his Deputy Press Secretary Abul Kalam Azad Majumder.

“Since establishment of our diplomatic relations, Korea continues to be a key development partner and a major foreign investor in Bangladesh. I am confident that under your able leadership, the bonds of friendship between our two countries will grow even stronger, expanding into new avenues of collaboration and partnership for the benefit of our peoples,” he said.

The Chief Adviser recalled that he and President Lee share the vision of improving lives of people through micro-credit programme.

"In particular, I fondly recall your initiative in establishing Jubilee Bank in Korea to provide small loans to low-income individuals,which has changed lives of millions in your country," he said.

"I look forward to closely working with you in the coming days both in my capacity as the Chief Adviser of interim Government as well as an advocate of microfinance and social business," the Chief Adviser added.

The Chief Adviser wished the new Korean president good health, happiness, and continued peace and prosperity for the people of the Republic of Korea.

Lee Jae-myung of the Democratic Party was elected as Korean president on Wednesday.​

 

[Saif]

Korean Embassy, KOTRA organises Infrastructure Road Show in Dhaka

The Embassy of the Republic of Korea and the KOTRA Dhaka office organised the “Infrastructure Project Roadshow 2025” on Wednesday at the Amari Hotel for the sixth consecutive year to boost bilateral trade. Thirteen Bangladeshi state entities and 35 Korean construction and engineering c

thefinancialexpress.com.bd

Korean Embassy, KOTRA organises Infrastructure Road Show in Dhaka

FE ONLINE REPORT
Published :
Jun 26, 2025 19:14
Updated :
Jun 26, 2025 19:14

The Embassy of the Republic of Korea and the KOTRA Dhaka office organised the “Infrastructure Project Roadshow 2025” on Wednesday at the Amari Hotel for the sixth consecutive year to boost bilateral trade.

Thirteen Bangladeshi state entities and 35 Korean construction and engineering companies took part in the event.

Director General of KOTRA, Mr Jinhak Hur, in his welcoming speech, stressed the importance of infrastructure cooperation in developing close bilateral ties between the two countries.

Representatives from Samsung C&T, Hyundai E&C, Dohwa Engineering, Kolon Global, KECC, and others from the Korean side, and representatives from the Planning Commission, Department of Roads and Highways, Bangladesh Power Development Board (BPDB), Dhaka Mass Transit Company Ltd (DMTCL), Dhaka Electric Supply Company Ltd (DESCO), Dhaka Power Distribution Company Ltd (DPDC), Dhaka WASA, Chattogram WASA, Power Grid Company of Bangladesh Ltd (PGCB), and Rural Electrification Board (REB) from the Bangladeshi side participated in the event.

Country Directors of the Korean Exim Bank and Korea Overseas Infrastructure & Urban Development Corporation (KIND) were also present.

The Planning Commission made a presentation on the project approval process, which was well received by the Korean companies.

The meeting discussed that the planning approval process typically starts with a feasibility study and ends with administrative approval from the Executive Committee of the National Economic Council (ECNEC).

The presentations also highlighted the Annual Development Programme (ADP) formulation and the development planning systems in Bangladesh.

Following the presentations, one-on-one meetings were held between interested Korean companies and government authorities, based on the results of a prior demand survey.

Korean companies have long been partners of Bangladesh. In recent years, bilateral relations have witnessed remarkable developments in areas of cooperation beyond ready-made garments (RMG), particularly in infrastructure.

Korean companies are also playing an important role in infrastructure development projects in Bangladesh through engineering, procurement and construction (EPC), and engineering consultancy services worth billions of dollars over the past few years.

Korea is also providing direct support through KIND-initiated Government-to-Government (G2G) Public-Private Partnership (PPP) projects.

The Korean Exim Bank is actively supporting infrastructure projects such as roads, railways, metro rail, power, water, and sewerage systems.

Through these initiatives, Korea aims to build even stronger ties with Bangladesh.

Participants in the roadshow expressed keen interest in further strengthening collaboration in infrastructure development.

The Bangladeshi side, expressing high satisfaction with the quality of work by Korean partners, stressed the strong potential for further cooperation between the two countries in developing Bangladesh's infrastructure.​

 

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Greater cooperation between Bangladesh and South Korea stressed

Participants at a programme laid emphasis on a greater cooperation between Bangladesh and South Korea. They also stressed the need for further strengthening collaboration between the two countries especially in the field of infrastructure development. The observations were made an "Infrastructure

thefinancialexpress.com.bd

Greater cooperation between Bangladesh and South Korea stressed
Korean Embassy and KOTRA organises 'Infrastructure road show in Dhaka

FE REPORT
Published :
Jun 27, 2025 12:12
Updated :
Jun 27, 2025 12:12

Participants at a programme laid emphasis on a greater cooperation between Bangladesh and South Korea.

They also stressed the need for further strengthening collaboration between the two countries especially in the field of infrastructure development.

The observations were made an "Infrastructure Project Roadshow 2025", organised by Embassy of the Republic of Korea and KOTRA Dhaka office organised in the city on Wednesday, aiming to boost bilateral trades between Bangladesh and Korea.

Thirteen state entities of Bangladeshi and 35 Korean construction and engineering companies took part in the sixth episode of such event at a city Hotel.

Director General of KOTRA, Jinhak Hur, in his welcoming speech at the programme, stressed the importance of infrastructure cooperation in developing close bilateral ties between the two countries, said a press release.

Representatives from Samsung C&T, Hyundai E&C, Dohwa Engineering, Kolon Global, KECC etc. from Korean side and Planning Commission, Department of Roads and Highways, Bangladesh Power Development Board (BPDB), Dhaka Mass Transit Company Ltd (DMTCL), Dhaka Electric Supply Company Ltd (DESCO), Dhaka Power Distribution Company Ltd (DPDC), Dhaka WASA, Chattogram WASA, Power Grid Corporation of Bangladesh Ltd (PGCB), Rural Electrification Board (REB), from the Bangladesh side took part in the event.

Country directors of Korean Exim Bank, and Korea Overseas Infrastructure Urban Development Corporation (KIND) were also presented at the programme, according to the press release.

Planning Commission made a presentation on project approval process.

The planning approval process typically starts with feasibility study and ends with administrative approval from the Executive Committee of the National Economic Council, the programme was told.

The presentation also highlighted Annual Development Programme (ADP) formulation process and development planning systems in Bangladesh.

Following the presentation, one-on-one meeting was held between interested Korean companies and government authorities based on the results of the prior demand survey.

Korean companies have been long-standing partner of Bangladesh, said the press release.

In recent years, the bilateral relations between the two countries witnessed remarkable developments in areas of cooperation beyond the ready-made garment (RMG), particularly in infrastructure.

Korean companies are also playing important role in infrastructure development projects in Bangladesh through engineering, procurement and construction (EPC) and engineering consultancy services worth over billions of dollars in the past few years, it added.

Korea is also directly supporting Bangladesh through KIND initiated G to G PPP projects.

Korean Exim Bank is actively supporting infrastructure projects such as Road, Railway, Metro Rail, Power, Water and Sewerage etc.

Through all these initiatives, Korea wants to build stronger ties with Bangladesh.

 

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South Korean ambassador urges alignment of EPZ Act with Labour Act to attract foreign investment

South Korean Ambassador Park Young-sik on Monday stressed the need to further align Bangladesh’s Export Processing Zones (EPZ) Act 2019 with its Labour Act 2006 to create a more conducive environment for foreign investors. Highlighting the need to improve labour productivity, he also undersc

thefinancialexpress.com.bd

South Korean ambassador urges alignment of EPZ Act with Labour Act to attract foreign investment

FE ONLINE REPORT
Published :
Jul 14, 2025 19:31
Updated :
Jul 14, 2025 19:42

South Korean Ambassador Park Young-sik on Monday stressed the need to further align Bangladesh’s Export Processing Zones (EPZ) Act 2019 with its Labour Act 2006 to create a more conducive environment for foreign investors.

Highlighting the need to improve labour productivity, he also underscored the importance of enhancing the operational efficiency of the Chattogram port, terming it key to facilitating smoother trade operations.

The foreign diplomat made the remarks at a courtesy call with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Mahmud Hasan Khan at the latter’s Uttara office in the city.

The meeting focused on exploring avenues to strengthen bilateral trade and investment ties between Bangladesh and South Korea, according to a statement.

Both sides discussed potential areas of collaboration, with particular emphasis on the textile and garment sectors, it added.

BGMEA vice president Md Shehab Udduza Chowdhury, director Faisal Samad, and member Israfil Atique were present while the Ambassador was accompanied by Kim Jeong ki, Consul at the Korean Embassy in Dhaka, and Noh Chy Woo, Country Head, Spandex Performance Unit and Spandex Plant, Hyosung TNC Corporation (Bangladesh Liaison Office).

During the meeting, BGMEA President Mr Khan highlighted Bangladesh’s growing potential as a destination for South Korean exports of man-made fibres, textile machinery, chemical dyes, and other raw materials.

South Korea represents a promising market for Bangladeshi apparel exports, offering significant opportunities for mutually beneficial trade, he added, appreciating South Korea’s historical support in the development of Bangladesh’s garment industry—particularly in the areas of technical assistance and workforce training during the industry’s formative years.

He sought the ambassador’s support in expanding Bangladesh’s apparel exports to South Korea and attracting Korean investment in non-textile sectors within Bangladesh.

The BGMEA leader also emphasised the need for enhanced market intelligence sharing and stronger business-to-business connectivity between Korean and Bangladeshi enterprises to deepen economic cooperation.

Both parties expressed optimism that the signing of a Free Trade Agreement (FTA) or an Economic Partnership Agreement (EPA) between Bangladesh and South Korea would significantly benefit both countries by fostering deeper economic integration.​

 

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S Korea intends to begin with $6.0b in fresh ventures

Dhaka expects South Korean loans for nearly two dozen proposed development projects initially involving Tk 816.70 billion as the Asian country aspires to be a new financier of megaprojects in Bangladesh. High officials of the lender-country evinced initial consent to loans worth

thefinancialexpress.com.bd

Now comes new financier of megaprojects in Bangladesh
S Korea intends to begin with $6.0b in fresh ventures

JAHIDUL ISLAM
Published :
Jul 30, 2025 00:13
Updated :
Jul 30, 2025 00:13

Dhaka expects South Korean loans for nearly two dozen proposed development projects initially involving Tk 816.70 billion as the Asian country aspires to be a new financier of megaprojects in Bangladesh.

High officials of the lender-country evinced initial consent to loans worth over US$ 6.0 billion during a recent visit to Bangladesh, said officials at the Economic Relations Division (ERD).

"South Korea is considering increasing its investment in Bangladesh's development projects. However, the country is currently showing a stronger inclination towards financing megaprojects," officials told The Financial Express.

Earlier on July 22, a four-member delegation from South Korea's Ministry of Land, Infrastructure and Transport and the Export-Import Bank of Korea met with officials at the ERD exploring investment prospects.

Ahead of the meeting, the ERD had sought project proposals from around three dozen implementing agencies to present a pipeline of potential development initiatives, as the incumbent interim government moves to inject fresh impetus in development works after recent slowdown.

The ERD officials have identified the political turmoil in both countries as a major obstacle to realizing the proposed investments. "South Korea is also facing political instability, much like the current situation in Bangladesh," notes one official.

The interest rate on the credits from the Korean Exim Bank would be determined commercially, but the rate of Economic Development Cooperation Fund (EDCF) would remain within 1.0 per cent, unchanged as in the framework agreement signed with Korea in 2022, says the officer.

"Even if the projects are approved at this stage, ensuring fund disbursement will still be a challenge. Some projects are under consideration for Korean financing, while feasibility studies are being conducted under Korean methodology for others," says another official.

Projects nearing completion of feasibility assessments are now at a mature stage, and agreements on those are likely to be signed soon. Discussions during the recent engagement also covered the investment currently in the pipeline.

"We discussed the pipeline projects, including areas where they have inconsistencies and where we fall short," the official told the FE.

There were also talks on issues related to project clearance -- where the Bangladesh side is holding back and where they are yet to give the green light.

A high official who attended the meeting said that while South Korea previously invested in small-scale projects, it is now showing interest in large initiatives such as Metro Rail Line-4, Metro Rail Line-5, rolling-stock supply for the railway, and construction of power-transmission lines.

Since 1993, the South Korean government has invested in various development projects in Bangladesh through the Korea Exim Bank. Most of Korea's assistance has come in the form of concessional loans.​