Invest more in Bangladesh, recruit more workers: Prof Yunus urges Korea

Chief Adviser Prof Muhammad Yunus on Monday urged South Korea to invest more in Bangladesh and recruit more Bangladeshi workers, especially in their shipbuilding industry, for mutual benefits.

Prof Yunus made the call when Park Young-sik, the South Korean Ambassador in Bangladesh, called on him at his office in Tejgaon, Dhaka,

“We look forward to a broader and more developed relationship with South Korea; elevate our existing relationship to the next step,” the CA told the ambassador.

Raising the issue of the current situation in the Korean peninsula Ambassador Park Young-sikh expressed concern at North Korea‍‍`s troops deployment in Russia - Ukraine war and it‍‍`s recent ballistic missile test. The chief adviser sought peace and stability in the Korean peninsula.

He told the chief adviser that many South Korean companies were keen to invest in Bangladesh with the recent positive turn in the business climate. He conveyed about Korea‍‍`s particular interest in importing  Bangladeshi workers for Korea‍‍`s shipbuilding sector.

He said that many South Korean companies were operating RMG factories in Bangladesh’s specialised economic zones.

The ambassador also said that Bangladesh is the number one recipient country of Korea’s Economic Development Cooperation Fund (EDCF) and is a very important development partner.

The total amount of the ODA loan from EDCF is $3 billion for Bangladesh, involving 34 projects, according to the Chief Adviser‍‍`s press wing.

EDCF also has 14 projects in progress that are ongoing or under feasibility study. It will raise the amount of Korean investment to $7 billion.

“We hope to continue to proceed with existing projects without interruption,” said the South Korean Ambassador.

“Just 50 years ago, Korea was also an ODA (Official Development Assistance) recipient country. So, we are well aware of the difficulties of Bangladesh and could be good partners through sharing development experience,” said Ambassador Park Young-sik.

He underscored the need for early negotiation of EPA between Bangladesh and South Korea.

The Chief Adviser thanked Korea for their continued support to Bangladesh in various fields.

Principal coordinator for Sustainable Development Goals (SDGs) affairs Lamiya Morshed and Economic Relations Division secretary Md. Shahriar Kader Siddiky were present on the occasion.