South Korean firms such as Hyundai and LG are interested in exploring investments in shipbuilding and electronics in Sri Lanka.
According to the Ministry of Industry and commerce the interest of Korean companies was revealed by South Korean Ambassador Jongmoon Choi during a courtesy call on Minister Rishad Bathiudeen. The Korean Ambassador said other Korean firms too are keen on a variety of projects in Sri Lanka. He has been quoted as saying that “Hyundai is looking mainly at shipbuilding and repairs while other Korean firms including LG are looking at electronics. He revealed of plans by these companies to send a fact finding trade delegation to Sri Lanka in the due course.
The main sectors of Korean investments in Sri Lanka at present are apparels, textiles, yarn, electrical and electronics, plastic, rubber, chemicals, steel, ceramics, ornamental, toys, infrastructure and packaging.