South Korean Ambassador to Bangladesh Lee Jang-keun on Wednesday said his country will significantly increase the size of soft loan to Bangladesh to US$ 3 billion from current US$ 700 million.  “This amount will be implemented during the next five years, between 2022 and 2026,” he said while speaking at the “DCAB Talk” held at Jatiya Press Club. Diplomatic Correspondents Association, Bangladesh (DCAB) organised the event. DCAB President Rezaul Karim Lotus and its General Secretary AKM Moinuddin also spoke. Previously, the size of the soft loan agreed between the two governments was US$ 700 million during the five-year period of 2021 and 2025. Soft loan from South Korea is known as the Economic Development Co-operation Fund (EDCF) and the interest rate is between 0.01 percent to 0.04 percent. So far South Korea has provided US$ 1.34 billion of EDCF concessional loans to Bangladesh for 27 projects. The ambassador said with this increase Korea can now assist bigger development projects of Bangladesh. “I believe that this will help Bangladesh for the smooth graduation from LDC in 2026.” Ambassador Lee said even though Korea’s Official Development Assistance (ODA) to Bangladesh is relatively smaller than those of Japan, US and Europe, Dhaka is the third major recipient of Korea’s ODA. “We expect that Bangladesh will be the second largest recipient this year,” he said. In the area of the Foreign Direct Invest (FDI), he said, there has been continuous inflow of Korean investment to Bangladesh. He said Korea remains one of the major foreign investors in Bangladesh. According to the BB, the accumulated stock of Korean FDI increased to US$ 1.4 billion in 2021/22 from US$ 1.1 billion in 2019/20. “Korea is the fifth major foreign investor,” he said, adding that this all shows how the relations between the two countries are growing.  Lee said his mandate is to strengthen  the bilateral relationship between Bangladesh and Korea. In this regard, in the beginning of his mandate in Bangladesh, the ambassador presented three major objectives of his work during his term - diversification, elevation and generation. He laid emphasis on diversifying the RMG-centered cooperation and taking the relations into a new height - 50 years of diplomatic anniversary - focusing on the young generation - talented, ambitious youth. Bangladesh and South Korea will celebrate the 50 years of diplomatic ties next year. “I am making various plans and efforts to make next year a meaningful year for the future of our relationship.” He said making a documentary about two countries’ 50 years of friendship was one of his preparations. Read:Repatriation of Rohingyas to Myanmar only solution: S Korea

South Korean Ambassador to Bangladesh Lee Jang-keun has described the Padma Bridge as a very proud history-making project in Bangladesh.  "Korea is very happy to take part in this very proud history-making project. A Korean company, Korea Expressway Corporation has supervised the construction process of the Padma Bridge and this company will also be in charge of the operation and maintenance of the bridge," he told UNB. Also read:Padma Bridge completely ring-fenced from foreign funding: MoFA The South Korean envoy said the Padma Bridge is the newest and also the biggest addition to the long list of Bangladesh’s accomplishments. He said Bangladesh has made many milestones during its journey toward development.  As a close development partner and friend of Bangladesh, and on behalf of the Republic of Korea, the ambassador congratulated the government and people of Bangladesh on the successful completion of the Padma Bridge project.

South Korean Ambassador to Bangladesh Lee Jang-keun on Thursday said the current geopolitical situation, to some extent, is creating more opportunities than challenges to Bangladesh and South Korea for closer collaboration. "Companies have realized the risks from geopolitical confrontations and the necessity of diversifying their investment and partners. In this situation Bangladesh is increasingly becoming an attractive partner for Korean companies," he said. The South Korean Ambassador made the remarks while addressing a seminar at the Foreign Service Academy. Foreign Minister AK Abdul Momen, who spoke as the chief guest at the seminar, said he is confident that together the two countries can build a peaceful and prosperous future for all as they have crossed the milestone of fifty years of friendship. Momen said Bangladesh seeks to elevate the bilateral relationship with South Korea to new heights, forging a deeper comprehensive economic partnership based on common priorities with long-term perspectives. “I believe unflinching political commitment from both sides and regular high-level consultations are highly essential to this end,” he added. Also read: Dhaka, Seoul to work together for their prosperity The Ambassador said that South Korea is becoming a more and more attractive partner to Bangladesh for reducing or avoiding the geopolitical risk. Obviously, Ambassador Lee said, the current geopolitical situation around the world is posing grave challenges to all, not only internationally but also regionally and bilaterally. The consequent disruptions in the global supply chain have put many countries in difficulties including Korea and Bangladesh, he said. "We all have to cooperate together more than before to get over these unprecedented geopolitical challenges of today," he said. Lee said his goal and ambition as an ambassador to Bangladesh is to make the most of the 50th anniversary next year as an important stepping stone and a really meaningful momentum to deepen and strengthen the ties between the two countries. Despite the disruptions from the Corona pandemic, he said, the trade volume between the two countries reached a “historic high” last year crossing US$2 billion and increased by more than 40 percent, both in import and export. “We have many more stories to share. Considering all these achievements we have made so far, our relationship and friendly ties look brighter in coming years and decades,” said Ambassador Lee. The envoy said he is sure that the new administration in Korea will offer a fresh opportunity for the two countries to open a new chapter of comprehensive partnership towards the next five decades, obviously based on the many achievements already made together so far. Also read: Dhaka, Seoul working closely to make more success stories: Envoy “I would like to assure you of my own commitment to make my utmost to this end and hope everybody to join in our joint journey towards a better and promising future relations,” he said. The Ambassador said a research report of Dhaka University will help them enhance their understanding not only of the fact but also of the value and meaning of Korea-Bangladesh relations so that they could chart together a new course of Korea-Bangladesh ties in the coming years and decades.  The Embassy of the Republic of Korea, the Ministry of Foreign Affairs of Bangladesh and the East Asia Study Center of the University of Dhaka jointly the organized seminar on the study of "50 Years of Korea-Bangladesh Relations: Trends and Directions" at Foreign Service Academy. Bangladesh Ambassador to South Korea Delwar Hossain joined virtually as special guest at the seminar chaired by Dhaka University Prof Dr Delwar Hossain.

South Korean Ambassador to Bangladesh Lee Jang-keun has expressed his commitment to deepen and strengthen the people-to-people partnership between Korea and Bangladesh, making the best use of the Employment Permit System (EPS) programme. Expatriates’ Welfare and Overseas Employment Minister Imran Ahmad and Ambassador Lee saw off 123 Bangladeshi workers on Monday who left for South Korea. Also read:Gwyn Lewis of Ireland appointed UNRC in Bangladesh It was the 14th batch of Bangladesh workers to Korea after Korea resumed admitting foreign workers through the Employment Permit System (EPS) in December 2021, according to South Korean Embassy in Dhaka.

South Korean Ambassador to Bangladesh Lee Jang-keun on Saturday has said his country is looking at bringing investments of major Korean brands to Bangladesh as the country is improving its investment environment and expanding market base. “Diversification is a real task for me and for our two governments. We’ve to move beyond RMG cooperation. What we see here is that diversification is now happening,” he said on Saturday after visiting the Fair Electronics Limited factory in Narshingdi. Members of the Diplomatic Correspondents Association, Bangladesh (DCAB) also visited the factory together with the South Korean Ambassador. Terming Bangladesh a growing and vibrant economy, Ambassador Lee said his country is looking at bringing investments of major Korean brands like Samsung, Hyundai and Daewoo to Bangladesh in the areas of construction, engineering, electronics and automobiles . “So long, our investments were mainly in the readymade garment sector. I think it is about eighty percent. Now we are diversifying our investments and it will continue to go up,” he said, hoping that Dhaka-Seoul cooperation will continue to grow with the presence of "big names." The South Korean envoy appreciated the business friendly initiatives of the government under the leadership of Prime Minister Sheikh Hasina and noted the important role that the private sector is playing in the country. He said global big names like Samsung and Hyundai will help attract more companies to come and invest in Bangladesh. Read: Dhaka-Washington’s ”Partnership Dialogue” Sunday; Under Secretary Nuland in city “South Korean companies are eager to invest here because its market is expanding, it has demonstrated sustained economic growth, its labour cost is comparatively lower and the government is improving its policy support,” Lee Jang-keun said.

Korea International Cooperation Agency (KOICA) has celebrated 25 years of its operations in Bangladesh recalling how KOICA's projects helped the country grow and establish the pillars of Digital Bangladesh. State Minister for ICT Zunaid Ahmed Palak, South Korean Ambassador to Bangladesh Lee Jang-keun, Country Director, KOICA Bangladesh Office Young-Ah Doh, Additional Secretary, Economic Relations Division Md. Shahriar Kader Siddiky and Representative of the World Food Programme Richard Ragan spoke at the function held on Tuesday night in a city hotel. Read:KOICA for enhancing treatment of neurodevelopmental disabilities for children in Bangladesh The occasion showcased KOICA’s successful projects and milestones in its 25 years of journey in priority sectors of ICT governance, health and education aligned with KOICA’s three programs, namely, Enhance Efficiency of Public Service by establishing Digital Public System, Enhance Public health by providing Quality of Health and Medical Service and Develop Skillful Human Resource for Sustainable Development. Speaking on the occasion, State Minister Palak recalled KOICA's projects in the ICT sector since its operation which helped Bangladesh to establish the pillars of Digital Bangladesh. Ambassador Lee emphasized on how the Korean government recognizes Bangladesh as an important partner and endeavors to increase exchanges between the two countries.

South Korean Ambassador to Bangladesh Lee Jang-keun has said his country wants to take the “strong relations” with Bangladesh to a new height engaging deeply in every potential area giving much focus on the young generation in terms of cooperation and collaboration. “The Golden Jubilee of diplomatic relations in 2023 would be a significant momentum for the two countries to take the strong ties to a new height,” he said, mentioning that the two countries now need to diversify the areas of cooperation. He was delivering the keynote address at a webinar hosted by the Cosmos Foundation, the philanthropic arm of the Cosmos Group, at its Ambassadors’ Lecture Series Dialogue premiered on Thursday. The topic for discussion was "Bangladesh-South Korea Relations: Prognosis for the Future." Enayetullah Khan, Chairman of the Cosmos Foundation, earlier made the inaugural remarks.

The operation of eye-care unit at Bangladesh-Korea Friendship Hospital (BKFH) in Savar begins this month.  South Korean Ambassador to Bangladesh Lee Jang-keun met Health Minster Zahid Maleque on Monday and informed him of the progress.  Read: Bangladesh’s single largest rooftop solar power plant inaugurated in Korean EPZ He sought support of the Bangladesh government for the successful operation of the Hospital and its newly established eye-care unit. The Korean Government, through KOICA, has established the Bangladesh-Korea Friendship Hospital in 1998 and handed over to the Bangladesh Government in 2008.  The Eye Health Promotion and Prevention of Blindness project was launched in 2014 with a total budget of 8.45 million US dollars, and a separate eye-care building was built in 2019 annexed to the BKFH. Read: Korean envoy seeks jabs for all foreign investors in Bangladesh Ambassador Lee also sought support of the Bangladesh Government for the vaccination of Korean nationals living in Bangladesh.  Earlier in March the Embassy sent the list of Korean nationals who wish to be vaccinated to the Ministry of Foreign Affairs, but none of them has been vaccinated yet. Ambassador Lee requested the Minister to facilitate Bangladesh’s cooperation with the International Vaccine Institute (IVI), a Seoul-based international organization established in 1997 whose main function is to develop vaccines and deliver them to developing countries.  Read: Korea to provide $700 mn of EDCF loan to Bangladesh Bangladesh is among the 36 signatories of the founding charter of IVI.

Speakers at a webinar on Tuesday sought stronger trade partnership and collaboration between Bangladesh and South Korea; and suggested exploring a free-trade agreement (FTA) between the two countries.