News & Media / Korea to invest 1 billion baht in EV, battery factory in Thailand
Korea to invest 1 billion baht in EV, battery factory in Thailand
14 Dec 2024 | PUBLISHED BY The Nation

A major South Korean automaker is in the process of investing US$30 million (1.02 billion baht) to set up a factory in Thailand for electric vehicles (EVs) and battery manufacturing, Commerce Minister Pichai Naripthaphan said on Saturday.

Furthermore, a South Korean cosmetic company is also planning to set up a Thai factory under an undisclosed investment budget, he said.

The commerce minister did not reveal the names of the two companies.

Pichai said that during a discussion with South Korean Ambassador Park Yongmin and delegates held recently at the ministry’s headquarters, the two parties agreed to work together to finalise the Thailand-South Korea economic cooperation framework by the end of 2025.

Thai and Korean delegates also vowed to re-establish a joint commerce committee between the two countries that had been disbanded for nearly 20 years, he said.

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