Minister and Head of Presidential Office Khammeung Phongthady received in Vientiane on Mar 6 a courtesy call from the Ambassador of the Republic of Korea to the Lao PDR Shin Sung Soon as the latter has been recently appointed to the post.
Laos and the Republic of Korea established diplomatic ties on Oct 25, 1995.
during the talks, Mr Khammeung Phongthady appreciated the new ambassador of the Republic of Korea upon his appointment to the post adding that Mr Soo’s apointment would contribute significantly to strengthening the cooperation and mutual assistance between Laos and R. Korea and help motivate korean investors to invest in Laos.
In reply, Mr Shin Sung Soon assured the minister that he will do his utmost to enhance the cooperation between Laos and the Republic of Korea.
R. Korea ranks fifth largest foreign investor in the Lao PDR investing around US$ 750 million in 257 projects last year. Meanwhile, the bilateral trade between the two countries reached US$ 68 million in 2016.
In the first nine months of 2017, the bilateral trade between the two Asian countries reached US$ 50 million with the export from Laos estimated at US$ 8 million.
Source: Lao News Agency