Amb.Thura H Thet Oo Maung of the Republic of the Union of Myanmar Embassy in Korea hosted a gala reception at Hotel Lotte in downtown Seoul on Jan. 7 to celebrate the 71st Annniversary of the country's Independence Day.
On hand at the event were prominent guests from the Korean government, members of foreign diplomatic missions accredited here as well as invited guests from all segments of Korea sociopolitical and business communities.
Ar present, South Korea’s interest in Myanmar lies in its economic assets,a sizable market of around 51 million people,and natural resource wealth to name just a few.
South Korea’s economic presence in the country is wide-ranging and Seoul has emerged as an important economic partner for Myanmar.
.Since the implementation of democratic reforms in 2011, Myanmar has attracted the attention of countries around the world seeking to capitalize on its gradual economic opening, including South Korea.
South Korea has doubled its development assistance, trade, and investment in the Southeast Asian country in less than five years, yet it still lags behind other major regional powers in these categories.
While South Korea may not necessarily be able to overtake its larger competitors, it is uniquely positioned to leverage its economic standing to develop a broader and more strategic relationship with Myanmar