South Korea agreed Wednesday to loan Cambodia nearly $20 million for the rehabilitation of roads and reservoirs throughout the country, and discussed setting up increased trade relations between the two countries in the last bilateral meeting of the Asean Summit, officials said.
During the meeting between Cambodian Prime Minister Hun Sen and South Korean Ambassador Kim Suk Soo, Korea pledged an $18 million loan to rebuild National Route 3 and another $1.9 million to rehabilitate a reservoir in Kandal province, officials from the South Korean Embassy and the Cambodian government said. Both officials declined to be identified.
The Cambodian official said, South Korea’s decision to grant Cambodia the loan came after Kim Suk Soo toured Kandal province Tuesday and saw the fallout from the seasonal floods.
Korea also agreed Wednesday to set up the general framework for the export and import of more goods between the two countries, the South Korean Embassy official said, adding that the framework would not be similar to any free-trade-area agreement proposed by China, Japan or India.
During the Asean Summit on Monday and Tuesday, China and the Asean countries agreed to establish a free-trade area which would open markets between the two regions, while Japan and India both proposed studying and possibly offering similar agreements. South Korea also is considering allowing 1,000 Cambodians to live in South Korea, where they would receive jobs in the technology sector for a set amount of time, the Cambodian official said.
Afterward, the Cambodians would return home, where they would bring the skills and education they learned to Cambodia.
One area where South Korea promised further support is in information technology, the Cambodian official said.
Previously, South Korea loaned Cambodia $20 million to develop a government registration system that would register people, property and automobiles nationwide.
