Thailand and South Korea are working together more closely in finance, defense, and tech startups. This was the focus of the Ignite Thailand-Korea Business Forum held on April 22 and 23 at the Lotte Hotel in Seoul. The two-day event brought together government officials, business leaders, and startup experts from both countries.
The forum was hosted by the Royal Thai Embassy in Korea, the Herald Media Group, and the Industrial Estate Authority of Thailand.
A new step in finance cooperation
Thailand’s Deputy Minister of Finance, Julapun Amornvivat, spoke about Thailand’s Financial Hub Initiative. This plan aims to make Thailand a top financial center in Asia, like Seoul. He said Thailand is a good place for business because of its strong infrastructure, business-friendly laws, and fast digital growth.
The Financial Hub Initiative is built on four main points: good business incentives, a special regulator, trained workers, and a smart plan to attract global clients. The goal is to make it easier for international companies, especially from Korea, to invest in Thailand and grow together.
Why Korean companies look to Thailand
Lee Sang-jun, Vice President of the Korea-Thailand Chamber of Commerce, said Thailand is a strong partner for Korean companies. He explained that Korea is known for research and development, while Thailand has a strong manufacturing sector. This allows Korean businesses to focus on creating new products while Thai partners handle production.
He added that Thailand supports private companies without too much government control. It also respects foreign technology and keeps a balanced relationship with countries like China, the US, and Japan.
Thai industrial zones open for Korean investment
During the event, nine Thai developers presented their industrial zones to Korean investors. These included Amata City Chonburi, WHA Eastern Seaboard, and Rojana Industrial Park. The aim was to show Korean businesses that Thailand is a good place to grow with strong local support.
A letter of intent was signed between the Industrial Estate Authority of Thailand and Korean energy company Enerth. They plan to work together at the Smart Park Industrial Estate, showing a real example of Korean investment in Thailand.
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Boosting defense collaboration
The forum also included a session on defense industry cooperation. Korean company Hanwha Aerospace and Thai company Chaiseri Metal and Rubber spoke about working together on military technology. Hanwha plans to share its armored vehicle tech with Thailand, which is updating its infantry systems.
Chaiseri said it hopes to work with Korea on communication systems and other military tools. Thailand’s Defense Technology Institute also joined the talks. The goal is to improve defense systems and keep peace in the Indo-Pacific region.
Startups and innovation get support
In the final part of the forum, Thai and Korean innovation agencies talked about helping new tech startups. Groups like Techsauce, SEA Bridge, and the National Innovation Agency joined the discussion.
Kanoch Rativanich from Thailand’s innovation agency said they are working on startups in AI, blockchain, and other high-tech fields. Kim Young-june from the Seoul Center for Creative Economy and Innovation said the goal is to match Korean innovation with what Thai businesses need right now.
This will help startups grow faster and make better products that work in both countries.
A path to long-term partnership
The Thailand-Korea Business Forum showed how both countries are planning a shared future. By working together in finance, defense, and technology, they are building stronger ties and opening new doors for people and businesses in both nations.
