- Published 2026.11.04 20:34
Bangladeshi ministers visit Korea to meet with executives of major companies
Seeking cooperation in logistics, shipbuilding, electronics and promoting industrial diversification
Major Korean companies met with a high-level Bangladeshi government delegation to discuss ways to expand local investment and technology cooperation. With the conclusion of negotiations on a Comprehensive Economic Partnership Agreement (CEPA) between the two countries, Bangladesh is pushing for industrial diversification, and related discussions are gaining momentum.
According to Bangladesh's Ministry of Planning and Economic Relations Division (ERD) on Nov. 4, a delegation led by Amir Hossain Mahmud Chowdhury, Bangladesh's Minister of Finance and Planning, recently visited Seoul and held successive meetings with executives of Hanwha Ocean, Samsung Electronics and Hyundai Glovis. The delegation discussed cooperation measures in various fields such as logistics, shipbuilding and electronics with each company.
Hyundai Glovis CEO Lee Kyu-bok personally met with the Bangladeshi delegation to discuss logistics, port development and automotive supply chain establishment. The Bangladeshi side explained business opportunities that could arise in local logistics hubs, special economic zones and smart logistics systems. The two sides agreed to form a working-level team to flesh out potential cooperation projects.
Hanwha Ocean exchanged views focusing on ship repair and maintenance, marine infrastructure, and floating storage and regasification unit (FSRU) projects. Hanwha Ocean proposed a phased approach, starting cooperation first in areas such as ship repair and conversion before expanding into high-value-added newbuilding business.
Samsung Electronics President Kim Woo-jun met with the delegation to explore cooperation in electronics manufacturing, artificial intelligence (AI), digital connectivity and workforce development. Minister Chowdhury asked Samsung Electronics to expand its business in Bangladesh and introduce advanced technology solutions.
The series of meetings came immediately after the Korean and Bangladeshi governments effectively concluded CEPA negotiations. Bangladesh's apparel and textile industries currently account for about 80% of total exports. The country is working to reduce this dependence and restructure its economy toward technology-intensive industries.
The Bangladeshi government offered several incentives to attract foreign investment. These included the complete elimination of a 26% tariff on raw materials for electronic products and automation of capital repatriation procedures. The World Bank (WB) predicted that Bangladesh's working-age population will peak in 2045. Bangladesh is attempting to transform itself into a new manufacturing hub based on this abundant labor force.
The Bangladeshi government plans to collect difficulties raised by Korean companies in local business and devise solutions. The two countries will launch a public-private joint working group involving government agencies and economic organizations to identify specific investment opportunities and public-private partnership (PPP) projects.
※ This article is an AI translation of the Korean original published by Korea Credit News; it was checked by automated quality guards and published by the English edition desk.
