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Thai govt roadshow attracts investment from line-up of Korea's top companies & SMEs: electronics, electrical appliances, even solar power & electricity from garbage.

Photo above of PM Yingluck Shinawatra wearing a Hanbok, the traditional Korean dress worn on special occasions.

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INVESTMENT

Inflows from Korea to reach B12bn

Manufacturers assured no repeat of 2011 crisis
27/03/2012
Chatrudee Theparat

SEOUL : South Korean investors are determined to pour at least 12 billion baht into Thailand over the next two years.

Investments will be for both new and expansion projects in the electronics, electrical appliances, metal parts and agro-processing sectors.

Industry Minister M.R. Pongsvas Svasti said DAS Tech Co, a manufacturer of solar cell panels, is seeking Board of Investment (BoI) approval for an expansion project..

Another project comes from Daerim, a partner of Hyundai Heavy Industry, to generate power from garbage with an investment of 1 billion baht. That project has already won BoI privileges, and the factory may be located in Phetchaburi province.

Daerim will sell power to the government and plans a second factory in Chanthaburi province.

Samsung Electronics Co wants to expand refrigerator production to 3 million units, up by 50%, and will spend 3 billion baht to raise capacity.

Samsung's total investment in Thailand is 8.65 billion baht. In Thailand, it makes electrical home appliances, refrigerators, TV sets, microwave ovens, dishwashers, washing machines and air-conditioners.

LG Electronics Co wants to expand its air-conditioner manufacturing facility with a 1-billion-baht package.

Previously, LG invested 2.9 billion to produce TVs, air-conditioners, washing machines, air compressors and microwave ovens.

New projects include Moca Mold Co, which plans to invest 200-300 million baht to manufacture moulds, and Samwoo Co, which will make automatic machines.

Last year, South Korean investors asked for BoI privileges for 39 projects worth 7.7 billion baht. It approved 35 projects worth 7.02 billion

M.R. Pongsvas told Korean investors at a seminar he expects the Thai economy will grow by 5.5% to 6.5% this year due to government restoration and flood prevention projects, with exports gaining 19%.

The seminar was part of the Thai government roadshow that runs to tomorrow, headed by Prime Minister Yingluck Shinawatra

Some 520 Korean investors attended, and investment applications numbered 700.

M.R. Pongsvas said the Thai government wants to attract more investment in new technology, renewable energy and environmentally related industries.

Ms Yingluck assured investors that flooding similar to last year will not happen again, as the government has already established a single-command committee with an early-warning disaster system and long-term water management plan.

Pailin Chuchottaworn, the president of PTT Plc, said his company plans to establish a joint venture in the oil and petrochemical industry, as South Korea uses advanced technology despite importing all of its energy.

PTT has exported petrochemical products to the country for a long time

Pichit Dejneeranat, the BoI's Seoul director, said Korean investors know little about the investment climate in Thailand and were quite surprised about the development of Thai industry.

The Seoul office opened three years ago, and cumulative investment has totalled 17.3 billion baht.

The BoI initiated a programme to attract high-tech factories to Thailand. Medium and small-scale industries with 200-300 million baht to invest have also shown interest in Thailand.

Cho Kang-von, president of the Korean-Thai Chamber of Commerce in Bangkok, said South Korean investors are quite concerned about next Sunday's increase in the daily minimum wage but are unlikely to relocate their factories to other countries.

"It would be better if the minimum wage gradually increased. But when the government implements a policy investors need to accept it. I think other foreign investors are as worried about this as Korean investors," he said.

(Source: Bangkok Post, INVESTMENT, Inflows from Korea to reach B12bn, Manufacturers assured no repeat of 2011 crisis, 27/03/2012, Chatrudee Theparat, link)

Foreign Investment Vocabulary

hanbok - the traditional Korean dress with vibrant colors and simple lines without pockets, worn as semi-formal or formal wear during traditional festivals and celebrations (See Wikipedia)

special occasions - special events or celebrations such as weddings or national holidays
line-up - 1. a list of participants in some activity ; 2. a team of players playing in a sports game
line-up of Korea's top countries

Samsung Electronics - the most famous South Korean conglomerate (chaebol), a multinational electronics and information technology company with assembly plants and sales networks in 61 countries across the world, Samsung has approximately 160,000 employees, the world's biggest IT maker, biggest producer of TVs 삼성전자  (See Wikipedia)

Hyundai Heavy Industry - the world's largest shipbuilding company, does large construction and engineering projects (See Wikipedia)

LG Electronics - a global electronics and telecommunications company with four divisions: mobile communications, home entertainment, home appliance, and air conditioning & energy solutionm, world's second-largest manufacturer of television sets (See Wikipedia)

Moca Mold - a Korean company that produces moulds (See website)

conglomerate - a large company that owns many smaller companies with different business activities (See Wikipedia)

Chaebol - a South Korean form of business conglomerate, global multinationals owning numerous international enterprises, large Korean family-controlled corporate groups that grew in size with aggressive governmental support and finance, some have become well-known international brand names, such as Samsung, Hyundai and LG (See Wikipedia)

Board of Investment (BoI) - an government agency that promotes investment in Thailand and provides investment information and services for investors, as well as many incentives (See Wikipedia and website)

incentive - something that encourages people to do sth, especially to work harder, spend more money, etc  
privilege - a special right or advantage given to a person, group or company (examples: the country was given special trade privileges with the US)
BoI privileges - special rights and advantages given by the Thai government to foreign companies that invest in Thailand (FDI investments)

Foreign Direct Investment (FDI) - money that companies of one country invest in another by buying property, building factories, buying businesses, etc (See Wikipedia)

investment - the act or process of putting money into businesses in order to make a profit or earn interest, for example by buying shares, bonds, property, etc (See Wikipedia)
inflows - money coming into the country
investment inflows - investment money coming into the country

Inflows from Korea to reach B12bn

crisis - an urgent, difficult or dangerous situation วิกฤตการณ์ วิกฤต
assured - told or promised that it will not happen again

Manufacturers assured no repeat of 2011 crisis

determined - wanting to do something very much and not letting anyone or any difficulties stop you ตั้งใจจริง, ซึ่งมุ่งมั่น

South Korean investors are determined to pour at least 12 billion baht into Thailand over the next two years.

expansion - when something increases in size, number or importance การขยายออก
expansion projects - projects that make a project bigger
electrical appliances - machines like fans, dishwashers that are used in the kitchen and home

metal - ด้ามมีด
metal parts
agro-processing - processing the crops grown by farmers to make products to be sold in stores

Investments will be for both new and expansion projects in the electronics, electrical appliances, metal parts and agro-processing sectors.

solar - involving the sun เกี่ยวกับดวงอาทิตย์
solar cell panel - used to create electricity from the rays of the sun (See Wikipedia on solar panel and solar cell)
approval - getting official permission to do something  การอนุมัต

Industry Minister M.R. Pongsvas Svasti said DAS Tech Co, a manufacturer of solar cell panels, is seeking Board of Investment (BoI) approval for an expansion project..

generate - create สร้าง กระตุ้นให้เิกิด to produce ก่อให้เกิด
power - energy in the form of electricity produced in large quantities and used to operate lights, machines, and heating
generate power - make electricity

Another project comes from Daerim, a partner of Hyundai Heavy Industry, to generate power from garbage with an investment of 1 billion baht. That project has already won BoI privileges, and the factory may be located in Phetchaburi province. Daerim will sell power to the government and plans a second factory in Chanthaburi province.

expand - to become larger ขายตัวออกไป
expand refrigerator production
capacity - the amount of something that can be produced ความสามารถในการ (ผลิต)
raise capacity - increase the amount of goods that a factory can produce

Samsung Electronics Co wants to expand refrigerator production to 3 million units, up by 50%, and will spend 3 billion baht to raise capacity.

electrical home appliances - same as "electrical appliances"
facility - a building used for a particular purpose
manufacturing facility - a factory

dishwasher - a machine in the kitchen for washing dishes
washing machine - a machine in the home for washing clothes 
air compressors - "a device that converts power (usually from an electric motor, a diesel engine or a gasoline engine) into kinetic energy by compressing and pressurizing air, which, on command, can be released in quick bursts" (See Wikipedia)
mould - an object used to manufacture other objects with a special shape, "a hollowed-out block that is filled with a liquid like plastic, glass, metal, or ceramic raw materials. The liquid hardens or sets inside the mold, adopting its shape"  แม่พิมพ์,  แบบหล่อ (See Wikipedia)

Samsung's total investment in Thailand is 8.65 billion baht. In Thailand, it makes electrical home appliances, refrigerators, TV sets, microwave ovens, dishwashers, washing machines and air-conditioners. LG Electronics Co wants to expand its air-conditioner manufacturing facility with a 1-billion-baht package. Previously, LG invested 2.9 billion to produce TVs, air-conditioners, washing machines, air compressors and microwave ovens. New projects include Moca Mold Co, which plans to invest 200-300 million baht to manufacture moulds, and Samwoo Co, which will make automatic machines.

prevention - take action to stop bad event happening
flood prevention - taking action to stop flood damage
flood prevention projects 

roadshow - financial roadshow, a series of events in different places to encourage people to invest in a company (or a country) (See Wikipedia)
attract - to cause someone to be interested in something ดึงดูดความสนใจ
roadshow attract more investment in new technology
renewable - can be created again (re + new = again + new), will not run out, will not be finished 
renewable energy - energy and fuel replaced naturally or controlled carefully so can be used without risk of running out of it (See Wikipedia)
establish - create
disaster - something very bad that happens and causes a lot of damage or kills a lot of people ความหายนะ ภัยพิบัติ
established a single-command committee with an early-warning disaster system

Last year, South Korean investors asked for BoI privileges for 39 projects worth 7.7 billion baht. It approved 35 projects worth 7.02 billion  M.R. Pongsvas told Korean investors at a seminar he expects the Thai economy will grow by 5.5% to 6.5% this year due to government restoration and flood prevention projects, with exports gaining 19%. The seminar was part of the Thai government roadshow that runs to tomorrow, headed by Prime Minister Yingluck Shinawatra  Some 520 Korean investors attended, and investment applications numbered 700. M.R. Pongsvas said the Thai government wants to attract more investment in new technology, renewable energy and environmentally related industries. Ms Yingluck assured investors that flooding similar to last year will not happen again, as the government has already established a single-command committee with an early-warning disaster system and long-term water management plan.

establish - to start something  that will likely continue for a long time (such as a company or organization)  สถาปนา, ก่อตั้ง, จัดตั้ง
joint - done together; belonging to or shared between two or more people ความร่วมมือกัน ร่วม, ที่ร่วมกัน
venture - a new activity, usually in business, which involves risk or uncertainty ธุริกิจเสี่ยงแต่สามารถทำกำไรได้
joint venture - a business owned and operated by two or more companies
establish a joint venture - start a business with another company
petrochemical - chemicals made from oil ปิโตรเคมี

Pailin Chuchottaworn, the president of PTT Plc, said his company plans to establish a joint venture in the oil and petrochemical industry, as South Korea uses advanced technology despite importing all of its energy.  PTT has exported petrochemical products to the country for a long time  

climate - 1. the general situation or attitudes that people have at a point in time; 2. the weather
investment climate - the investment situation and the attitudes that investors have about investing in some place (like Thailand)
investment climate in Thailand
development - the gradual growth and formation of something
development of Thai industry
initiated - created; started ริเริ่มโดย
cumulative - the total amount of something up to now (over many years from the beginning) 
cumulative investment - the total amount of investment up to now (over many years from the beginning) 
initiated a programme to attract high-tech factories to Thailand
scale - size (relative size)
medium and small-scale industries - SMEs

Pichit Dejneeranat, the BoI's Seoul director, said Korean investors know little about the investment climate in Thailand and were quite surprised about the development of Thai industry. The Seoul office opened three years ago, and cumulative investment has totalled 17.3 billion baht. The BoI initiated a programme to attract high-tech factories to Thailand. Medium and small-scale industries with 200-300 million baht to invest have also shown interest in Thailand.

concerned - worried about something มีความกังวล
quite concerned - very worried
wage - an amount of money that you earn for working, usually according to how many hours or days you work each week or month ค่าจ้าง
daily minimum wage - the smallest amount of money that can be legally paid to a worker for a days' work
relocate - move to another location ย้ายไปตั้งอีกที่หนึ่ง
policy - a plan of action to guide decisions and achieve outcomes (See Wikipedia) นโยบาย
implement a policy - put a plan into action; make a plan work to achieve goals

Cho Kang-von, president of the Korean-Thai Chamber of Commerce in Bangkok, said South Korean investors are quite concerned about next Sunday's increase in the daily minimum wage but are unlikely to relocate their factories to other countries.  "It would be better if the minimum wage gradually increased. But when the government implements a policy investors need to accept it. I think other foreign investors are as worried about this as Korean investors," he said.