Chief Adviser Professor Dr. Muhammad Yunus has called on South Korea to invest more in Bangladesh.
He also called for more workers to be employed in the country's shipbuilding industry.
He made the call when South Korean Ambassador Park Young-shik came to meet the Chief Adviser's office in Dhaka on Monday (November 4).
Addressing the Ambassador, Professor Yunus said, "We look forward to a broader and better relationship with South Korea. We want to take our existing relationship to a higher level. This will be beneficial for both countries."
Expressing concern over the current situation on the Korean Peninsula, Ambassador Park Young-shik noted that North Korea has sent troops to the Russia-Ukraine war and recently conducted ballistic missile tests. The Chief Adviser called for peace and stability on the Korean Peninsula.
The Ambassador informed the Chief Adviser that many South Korean companies are interested in investing in Bangladesh as the business environment in the country has taken a positive turn.
He informed the Chief Adviser about his government's interest in employing Bangladeshi workers in the Korean shipbuilding sector.
He also said that many South Korean companies are operating garment factories in Bangladesh's export processing zones.
The Ambassador said that Bangladesh is the largest recipient of assistance from South Korea's Economic Development Cooperation Fund (EDCF) and Bangladesh is a very important development partner.
Korea's total ODA (Official Development Assistance) loan to Bangladesh is 3 billion dollars. This financing is available for 34 projects.
There are 14 more EDCFA projects that are ongoing or under feasibility study. If this project is funded, the amount of Korean investment will increase to 7 billion dollars.
The South Korean Ambassador said, "We look forward to moving forward with the ongoing projects smoothly."
Ambassador Park Young-shik said that just 50 years ago, Korea itself was an ODA recipient. So we are aware of the difficult situation in Bangladesh and can be good partners by sharing development experiences.
He stressed the need for early negotiations on the EPA (Economic Partnership Agreement) between Bangladesh and South Korea.
The Chief Adviser thanked Korea for its continued support to Bangladesh in various fields.
Lamia Morshed, Principal Coordinator for SDGs in the Office of the Chief Adviser, and Md. Shahriar Quader Siddiqui, Secretary of the Economic Relations Division, were present at the time.