SEOUL, KOREA - An industrial complex will be built in Myanmar exclusively for Korean companies. In addition, an agreement to guarantee investment in order to reduce risk for companies doing business there. The government held an external affairs ministerial meeting at Korea EximBank on June 13 and passed a proposal to establish a "Korea-Myanmar economic cooperation joint committee."
Hyun Oh-seok, the Deputy Prime Minister for Economic Affairs and Minister of Strategy & Finance, will visit the Southeast Asian nation and meet on the 19th his counterpart, the Minister of National Planning and Economic Development, in Burmese capital Naypyidaw.
Shin Min-seok, the finance ministry's senior manager for trade negotiations, said, "In the upcoming economic cooperation committee meeting we will discuss the creation of an industrial complex, guarantee of profit remittance and currency exchange, and risk management support."
Separately the government will push ahead with a plan to establish a Myanmar Development Institute modeled after the Korea Development Institute to spearhead the nation's economic development drive.
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