Thai embassy, SCG presents partnership opportunities for Korean companies

Siam Cement Group (SCG) Managing Director Abhijit Datta recommends supply chain,trading distribution, and technology as potential areas opportunities for partnership with Korea during the SCG Business Seminar and roadshow co-hosted by Thai Embassy in Seoul and SCG on Thursday. (Sanjay Kumar/The Korea Herald)

The Thai Embassy and Siam Cement Group (SCG) presented collaboration opportunities and business openings to Korean companies at Plaza Hotel in Seoul on Thursday.

SCG, Thailand's second-largest business conglomerate organized a business seminar and roadshow to strengthen Thailand-Korea economic ties for future collaborations.

Aiming to forge relationships with Korean companies, SCG suggested potential areas of collaboration including smart buildings and smart cities, green construction solutions, construction product development, and application of new technologies.

Thai Ambassador to Korea Witchu Vejjajiva emphasized that Thailand, as the largest economy in mainland Southeast Asia and the second-largest in ASEAN, said his country was geographically well-placed to serve as a hub for regional trade, investment, transport and tourism.

Attendees take part in a panel discussion at the SCG Business Seminar and roadshow co-hosted by the Thai Embassy and SCG. (Sanjay Kumar/The Korea Herald)

The Thai economy was resilient despite COVID-19, current food and energy crises with GDP growth of 2.5 percent in the second quarter of 2022, Vejjajiva said highlighting Thailand’s projected growth target of 3.2 percent in 2022.

He cited vibrant, adaptable business communities, internationally competitive giant Thai businesses as major driving forces for growth and economic resilience.

“Thai Chaebols have been recognized world-wide in their global footprints, with 14 of them in the Forbes TOP 2000 2022 List,” underlined Vejjajiva .

Thailand Board of Investment Director Kritawit Madhyamankura delivers a presentation on Thai investment oppportunities at the SCG Business Seminar and roadshow co-hosted by the Thai Embassy and SCG. (Sanjay Kumar/The Korea Herald)

Vejjajiva noted that Thai companies had diversified from conventional businesses into areas in which South Korea has leading and compatible advantages, such as biotechnology, EV supply chains and renewable energy and decarbonization technology.

“These Thai Chaebols are now looking for partners all around the globe, including in South Korea,” stressed Vejjajiva.

The Thai Embassy would introduce Thai conglomerates to the Korean business community in economic seminars and roadshows, according to Vejjajiva.

By Sanjay Kumar(sanjaykumar@heraldcorp.com)