PM Paetongtarn meets South Korean leader

Thailand and South Korea have pledged to strengthen cooperation in several areas, including soft power development, electric vehicles and labour issues.
The agreements came as Prime Minister Paetongtarn Shinawatra met with South Korean President Yoon Suk-yeol on Thursday on the sidelines of the Asean summit in the Vientiane.
Both sides hope to expand cooperation in a number of areas, including trade, investment, EVs, national defence and people-to-people exchanges.
Ms Paetongtarn said South Korea is strategically important and that Thailand is ready to strengthen bilateral economic ties with the East Asian nation. She also invited the South Korean president and his wife to visit Thailand.
She also said the two countries have attached importance to economic cooperation as they work to conclude negotiations to establish a Thailand-South Korea Economic Partnership Agreement (EPA). The pact seeks to bolster bilateral trade and investment and pave the way for a full free trade agreement by 2025.
The prime minister said Thailand was ready to invest in electric and hybrid vehicles. Hyundai Motor Company has also announced plans to build a production base for electric and combustion engine vehicles in Thailand, which will also attract more small investors from South Korea.
Ms Paetongtarn said the Thai government also plans to establish the Thailand Creative Culture Agency (THACCA) to oversee the content creation industry and soft power development. It hopes to learn from South Korea’s experience and expertise in these areas.
She said that Thailand has supported efforts to reduce global warming and is advocating using clean energy.
Thailand is also interested in cooperating with South Korea in the area of nuclear power, the prime minister said.
Mr Yoon praised Thailand’s plan to establish the THACCA and pledged to cooperate in soft power development. He also stressed the need for the two countries to work together to tackle the problem of illegal Thai workers in South Korea.
Mr Yoon said he believed Thailand has the potential to become a leader in the region’s EV industry.