South Korean Ambassador Park Young-sik reaffirmed his country’s dedication to deepening ties with Bangladesh, describing their 50-year relationship as a “remarkable journey of cooperation based on mutual trust, shared growth, and friendship.”
He made this statement while addressing the Korean Investors’ CSR Activities and Future Together seminar in Dhaka.
The event, organized by the Korean Embassy, KOICA, and KOTRA, brought together Korean investors, development agencies, NGOs, and Bangladesh’s business community to discuss corporate social responsibility (CSR) initiatives and future cooperation opportunities. Shahab Uddin Khan, President of the Korea-Bangladesh Chamber of Commerce and Industry (KBCCI), was the chief guest.
Ambassador Park highlighted that the partnership dates back to 1979, when Desh Garment and Daewoo Corporation collaborated, marking the beginning of Bangladesh’s ready-made garment (RMG) industry. He acknowledged the significant contribution of Korean companies to the growth of Bangladesh’s RMG sector, which now accounts for over 80% of the country’s exports.
He also mentioned the success of the Korean Export Processing Zone (KEPZ) in Chattogram, which has generated about USD 1.25 billion in exports and employs more than 70,000 workers.
Beyond RMG, Ambassador Park noted the growing involvement of Korean companies in Bangladesh’s infrastructure development, with 144 companies contributing to 257 projects worth USD 8.82 billion as of April 2025.
He emphasized Korea’s commitment to corporate social responsibility, stating that CSR is a reflection of the country’s sustainable business practices. “CSR is not just about philanthropy; it’s a commitment to sustainable practices benefiting society and the environment,” he said.
Looking ahead, Ambassador Park stressed the importance of the ongoing negotiations for a Comprehensive
Economic Partnership Agreement (CEPA) between the two countries, which he believes will further strengthen their relationship. He suggested that improvements in business conditions, including visa processing, customs clearance, tariff reduction, and flexible profit repatriation, would help unlock Bangladesh’s full investment potential.
He also pointed out that Bangladesh’s exports to Korea, though growing, are limited in range and could benefit from a CEPA, especially in sectors like footwear, ICT products, leather goods, and pharmaceuticals. Ambassador Park reaffirmed Korea’s readiness to continue its role in Bangladesh’s infrastructure development and sustainable growth.
Ambassador Park concluded by reflecting on Korea’s evolution from an aid recipient to a donor nation, noting that Bangladesh is now the third-largest recipient of Korea’s Official Development Assistance (ODA), supporting sectors like education, health, transportation, and public administration. He expressed optimism for a future of stronger economic engagement and shared prosperity between the two nations, emphasizing that Korean investors have become trusted partners in Bangladesh’s industrial and social transformation.
