High-level talks between the Kingdom of Cambodia and the Republic of Korea have focused on expanding cooperation across multiple sectors, reinforcing the long-standing partnership between the two nations.
During the first ten months of 2025, the total trade volume between Cambodia and South Korea reached $746.69 million, marking a 7.7% increase compared to the same period in 2024, according to the General Department of Customs and Excise of Cambodia (GDCE).
Strengthening Economic and Strategic Ties
On November 10, South Korean Minister of Foreign Affairs Cho Hyun led a high-level delegation to Cambodia, where he met Prime Minister Hun Manet at the Peace Palace in Phnom Penh.
Prime Minister Hun Manet expressed appreciation to the South Korean government for its continuous support of Cambodia’s socio-economic development. He highlighted that South Korea has played a vital role not only in infrastructure and industrial growth but also in improving the livelihoods of thousands of Cambodian citizens working in Korea.
“Cambodia considers this official visit an important opportunity to further deepen the relations and cooperation between our two nations,” he stated.
Expanding Cooperation Across Key Sectors
Both sides discussed strengthening collaboration in several priority areas, including:
- Trade and Investment: Enhancing bilateral trade flows and supporting business partnerships under the Cambodia–Korea Free Trade Agreement (CKFTA).
- Defence and Security: Promoting dialogue and capacity building to ensure regional stability.
- Industrial Development: Exploring the establishment of a special economic zone (SEZ) dedicated to Korean enterprises in Cambodia.
- Tourism and People-to-People Exchange: Expanding mutual tourism promotion campaigns and cultural cooperation initiatives.
- Technology and Education: Encouraging innovation, skill development, and technology transfer.
These discussions aim to strengthen bilateral cooperation for mutual benefit and contribute to sustainable economic growth for both nations.
Trade Performance in 2025
From January to October 2025, Cambodia’s exports to South Korea amounted to $262.46 million, representing a slight increase of 0.2% year-on-year. Meanwhile, imports from South Korea reached $484.22 million, up 12.2% compared to the same period in 2024.
As a result, Cambodia recorded a trade deficit of $221.76 million, compared to $169.48 million during the same period last year. Despite the imbalance, overall trade performance between the two nations remains strong.
Expert Insights on Cambodia–Korea Trade Outlook
Hong Vanak, an economist at the Royal Academy of Cambodia, noted that trade between Cambodia and South Korea continues to grow steadily despite global economic uncertainties. He emphasized that both countries’ membership in the Regional Comprehensive Economic Partnership (RCEP) and the Cambodia–Korea Free Trade Agreement (CKFTA) will further strengthen economic integration.
“This positive trend will likely continue as both nations expand cooperation under existing trade agreements,” Vanak said. He also observed that amid regional challenges, such as ongoing border issues between Cambodia and Thailand, the Cambodian market has become an increasingly important destination for Korean goods.
Regarding the trade deficit, he added that Cambodia continues to benefit significantly from the remittances of Cambodian workers in South Korea, which contribute to national income and financial stability.
Future Prospects for Cambodia–Korea Partnership
The recent talks reaffirmed the shared commitment of both governments to deepen bilateral cooperation in all sectors. As trade, investment, and tourism continue to expand, the partnership between Cambodia and South Korea is expected to play a crucial role in advancing regional economic growth and prosperity.
With continued implementation of the RCEP and CKFTA, both countries are well-positioned to achieve stronger trade diversification, greater industrial collaboration, and sustainable development in the years ahead.
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