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.
For more details, click here