South Korea-Thai MoUs set for signing

South Korea-Thai MoUs set for signing

Agreements span various sectors

Deputy Prime Minister Somkid Jatusripitak welcomes South Korean President Moon Jae-in and his spouse upon their arrival for the official visit to Thailand on Sunday. (Photo from @MFAThai Twitter account)
Deputy Prime Minister Somkid Jatusripitak welcomes South Korean President Moon Jae-in and his spouse upon their arrival for the official visit to Thailand on Sunday. (Photo from @MFAThai Twitter account)

Thailand is scheduled to clinch six memorandums of understanding (MoUs) with South Korea on Monday on smart cities; Industry 4.0; education; water development; rail, transport and infrastructure development; and military cooperation.

The signing is to be witnessed by Moon Jae-in, president of South Korea, who is leading an economic team and companies to visit Thailand, and Prime Minister Prayut Chan-o-cha.

Narumon Pinyosinwat, a spokeswoman in the Prime Minister's Office, said the cabinet approved six MoUs on Aug 27.

The first MoU will be signed by Thailand's Digital Economy and Society Ministry and South Korea's Land Infrastructure and Transport Ministry. The two countries aim to exchange technology on human resource development and promote related industries in smart cities.

Thailand and South Korea also plan to establish a committee on smart city development, which will be set up by Thailand's Digital Economy Promotion Agency and South Korea's Overseas Urban Cooperation Division.

The second MoU is between Thailand's Industry Ministry and South Korea's Trade, Industry and Energy Ministry on cooperation in targeted industries, including robotics and automation, bioeconomy, smart electronics, electrical appliances, and smart cars. The cooperation will also cover investment, human resource development and enhancing competitiveness for small and medium-sized enterprises in Thailand.

The third MoU, on education, will be signed by the education ministries of the two countries. The cooperation will include opening Korean language schools in Thailand, training programmes for Thai teachers and Korean studies development in Thailand.

The fourth MoU, on water development and management, will be signed by Thailand's Office of National Water Resources and South Korea's Environment Ministry. The cooperation will cover the implementation of smart technology on water management, better water management for consumption, industry and agriculture, water quality and ecology, and research on technology development.

The fifth MoU will be for the extension of the rail, transport and infrastructure cooperation between Thailand and South Korea. Thailand's Transport Ministry and South Korea's Ministry of Land, Infrastructure and Transport will sign the MoU.

The sixth MoU, on military cooperation, will be signed by the foreign ministries of the two countries.

Deputy Prime Minister Somkid Jatusripitak said Mr Moon's visit to Thailand represents a new era of economic cooperation between Thailand and South Korea, with the latter interested in Thailand as an investment destination.

He said the government is devising an investment policy to attract South Korean investors.

Mr Somkid said he already ordered the Board of Investment and related agencies to consider the possibility of developing Korean industrial estates.

Thailand and South Korea are also scheduled to organise a Korea-Thailand Committee on Economic Cooperation by the end of this year.


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