Bangladesh has discussed a proposed $1–2b sovereign fund with South Korea’s state investment corporation as it seeks to attract institutional capital for infrastructure, renewable energy and digital projects.
The proposal featured in a series of meetings in Seoul on 3 November, where Finance and Planning Minister Amir Khosru Mahmud Chowdhury led a delegation in talks with Korean government officials, financial institutions, investors and technology companies, according to a press release.
Discussions with the Korea Investment Corporation (KIC) covered investment opportunities in infrastructure, renewable energy, digital infrastructure and other commercially viable projects. The two sides also explored combining KIC equity investment with financing from the Korea Export-Import Bank (KEXIM), potentially through Korean fund managers.
The broader push is to take Bangladesh–South Korea economic relations beyond concessional development finance towards investment, technology and industrial partnerships.
At a meeting with KEXIM Chairman and CEO Hwang Kiyeon, the delegation reviewed the $3b Economic Development Cooperation Fund (EDCF) framework for 2023–2027 and discussed three priority projects: the Dhaka MRT Line-5 Southern Route, the Matlab Uttar–Gazaria Bridge and 260 broad-gauge passenger carriages.
With EDCF priorities under review, Bangladesh sought a clear roadmap for the remaining funds. It also proposed expanding cooperation into artificial intelligence (AI), digital transformation, smart infrastructure and resilient supply chains. KEXIM said project proposals would be considered in consultation with relevant Korean authorities.
In talks with South Korean Vice Finance and Economy Minister Chang Huh, Amir Khosru called for a broader strategic partnership covering trade, investment, advanced manufacturing, energy, shipbuilding and digital technologies.
Bangladesh also encouraged greater Korean participation in the Asian Development Bank-supported Integrated Growth and Development (IGND) initiative, including its financing and implementation. Korea is already providing technical support for the initiative’s masterplanning. The Korean side expressed readiness to continue discussions on AI, digital transformation, alternative financing, future EDCF cooperation and wider involvement in the initiative.
AI cooperation featured in meetings with LG AI Research, where the delegation explored developing a Bangladeshi large language model reflecting the country’s language and cultural context. They also discussed AI applications in education, healthcare, manufacturing and public services. Bangladesh outlined its ambition to become a regional AI and data-centre hub.
Discussions with FuriosaAI focused on strengthening Bangladesh’s higher-value AI ecosystem, while KEXIM expressed interest in exploring AI-integrated infrastructure projects.
The delegation also sought Korean investment in energy, liquefied natural gas (LNG), renewable energy, shipbuilding, advanced manufacturing, urban development and infrastructure, with an emphasis on long-term investment and public-private partnerships (PPPs).
In talks with Samsung C&T, Bangladesh explored cooperation in infrastructure, renewable energy, urban development, tourism and PPP projects, including rooftop and utility-scale solar. Samsung C&T expressed interest in moving beyond engineering, procurement and construction (EPC) contracting towards longer-term investment. Both sides agreed to continue technical discussions on priority projects.
At an investment roundtable organised by Youngone, Bangladesh highlighted opportunities in light engineering and component manufacturing, encouraging Korean companies to pursue joint ventures, technology transfer and the integration of Bangladeshi suppliers into Korean value chains.
The meetings reflected a shared interest in turning the relationship into a broader partnership based on trade, investment, technology and industrial cooperation. Both sides agreed to continue consultations to translate the discussions into concrete projects and investment partnerships.
