South Korea and Cambodia officially elevated their relationship to a strategic partnership during a summit in Seoul on Thursday between President Yoon Suk Yeol and Cambodian Prime Minister Hun Manet.
The announcement, made with full confidence in the future of the bilateral partnership, highlighted the strengthening diplomatic ties between the two nations over the past few decades, according to a joint statement released following the meeting.
Both leaders agreed to enhance cooperation in various sectors, including politics, national security, defense, economy, finance, and official development assistance. As outlined in the joint statement, they also committed to leveraging the Regional Comprehensive Economic Partnership (RCEP) and other free trade agreements for mutual benefit.
The joint statement also detailed plans for stronger defense cooperation through high-profile official exchanges, education, anti-terror training, and joint drills.
During the summit, President Yoon highlighted the progress in bilateral ties since reestablishing relations in 1997. He noted that trade volume has increased twentyfold, people-to-people exchanges have grown 150-fold, and South Korea has become the second-largest investor in Cambodia.
Additionally, around 10,000 multicultural families are now linked to the two countries. Yoon emphasized that the establishment of a strategic partnership marks a crucial diplomatic breakthrough.
The two countries committed to collaborating on United Nations peacekeeping operations and enhancing regional maritime safety and security. Economically, both sides praised the inaugural meeting of their bilateral committee on a free trade agreement and agreed to further negotiations on services and investment. They also pledged to strengthen cooperation in digital trade and intellectual property to drive innovation and sustainable development.
On the security front, Cambodia endorsed South Korea’s “Audacious Initiative,” which seeks to achieve a denuclearized, peaceful, and prosperous Korean Peninsula, contributing to Indo-Pacific regional prosperity. Kim Tae-hyo of South Korea’s National Security Office praised Cambodia for its strict adherence to United Nations sanctions on North Korea, highlighting efforts such as repatriating North Korean workers, intercepting sanction-violating vessels, and shutting down North Korean businesses. Additionally, Kim announced a new demining project in Cambodia, which is set to commence this year.
The summit, which marked the first visit by a Cambodian leader to South Korea in a decade, resulted in the signing of six key documents aimed at enhancing bilateral cooperation. These agreements focused on expanding trade and investment, accelerating collaboration in high-tech industries, and achieving carbon neutrality by 2050.
At the Korea-Cambodia Business Forum, attended by 250 participants from both nations, discussions centered on investment policies, economic conditions, and promising sectors.
Prime Minister Hun Manet’s visit to South Korea included high-level meetings and discussions on boosting economic ties and defense cooperation.
