On 8 November 2024, Mr. Bancha Yuenyongchongcharoen, Minister/Deputy Chief of Mission, the Royal Thai Embassy, Seoul, attended a working dinner with H.E. Paopoom Rojanasakul, Deputy Minister of Finance, and a delegation from the Thai Credit Guarantee Corporation (TCG). H.E. Paopoom and delegation were on a study visit to learn about the credit guarantee system and SME support initiatives in the Republic of Korea.

Minister Bancha shared information and perspectives on bilateral trade and investment between Thailand and the ROK, as well as ways to further promote trade, investment, and tourism between the two countries. He also briefed the delegation on the Embassy’s mission on providing consular protection and services for 200,000 Thai citizens residing in the ROK.

Minister Bancha highlighted that the ROK is the 4th largest economy in Asia and the 13th globally. Thus, Thailand places great importance in enhancing cooperation with the ROK across all sectors. Currently, two major cooperative projects are underway between both countries; namely collaboration to establish virtual bank between Kakao Bank and SCBx, which is currently under the consideration of the Bank of Thailand, and a partnership between Korea Land & Housing Corporation (LH) and the Industrial Estate Authority of Thailand (I-EA-T) to establish a Korean industrial estate in Thailand, following the signing of the MOU between both parties on 10 September 2024.