Laos, S. Korea extend bilateral cooperation

The governments of Laos and South Korea have held talks on ways to expand their cooperation in trade and investment, with S. Korea currently ranked fourth in terms of foreign investment in Laos.

Mr Phoxay Khaykhamphithoune (right) welcomes Mr Chung Byung-won at the Ministry of Foreign Affairs.

Last year, Korean companies were operating 312 projects and businesses in Laos, with investments totalling about US$758 million.
South Korea’s Deputy Foreign Minister Mr Chung Byung-won and his delegation arrived in Vientiane on Monday for an official visit to Laos, when they met for talks with Laos’ Deputy Minister of Foreign Affairs, Mr Phoxay Khaykhamphithoune.
Mr Phoxay offered a warm welcome to the Korean delegation, saying the visit was a significant milestone in Laos-Korea relations and cooperation.
The two governments plan to continue cooperation in trade and investment, infrastructure development, defence and peacekeeping, climate change, socio-cultural matters, labour, consular affairs, and education.
The meeting saw the two sides discuss the strengthening of friendly relations and cooperation between Laos and Korea towards more fruitful results, especially as the two countries are preparing to celebrate the 30th anniversary of diplomatic relations in 2025.
The talks were a reaffirmation of the commitment of the two countries to promote friendly relations and cooperation to achieve their goals.
The two sides reviewed the current status of their relationship, which is built on mutual understanding, trust, support, and frank exchange of views at the regional and global levels.
The leaders of the two countries have made reciprocal visits and there is an increasing trend in people-to-people links.
Cooperation in the regional and global arenas is strengthening, especially within the Asean-Korea, Mekong-Korea, United Nations and other international frameworks.
The two sides also shared opinions on emerging situations in the region and other parts of the world.
Mr Phoxay thanked the government and people of Korea for their support through the Official Development Assistance (ODA) programme and the loan programme from the Economic Development Cooperation Fund.
Korea’s assistance focuses on priority development sectors in Laos, including the public sector, clearance of unexploded ordnance, rural development, and human resource development.
Mr Chung Byung-won thanked Mr Phoxay for his warm welcome, expressed his gratitude to the Lao government for providing cooperation and support to Korea, and reaffirmed the country’s continued cooperation, assistance and support to Laos, especially during Laos’ chairmanship of Asean this year.
On the same day, Mr Chung Byung-won met with Deputy Prime Minister and Minister of Foreign Affairs, Mr Saleumxay Kommasith.
The Korean delegation also met Deputy Minister of Foreign Affairs Mr Thongphan Savanphet to discuss Asean cooperation.

By Times Reporters
 (Latest Update January 17, 2024)