Korea Week 2023 to celebrate 50 years of Korea-Bangladesh diplomatic ties

The South Korean community in Bangladesh is going to organise "Korea Week 2023" from 25 February to 3 March 2023 to propel economic success and to celebrate the 50th anniversary of diplomatic ties between the two countries.

Different programmes during the Korea Week will be held at the International Convention City Bashundhara (ICCB) and Kurmitola Golf Club in Dhaka with a slogan "Stay Strong March Together, said Yong Oh Yu, chairman of the Korean Community in Bangladesh, at a press conference at the Embassy of the Republic of Korea on Wednesday.

South Korean Ambassador to Bangladesh Lee Jang-keun, said, "The embassy, along with KBCCI and other Korea-related organisations including KOTRA, KOICA, Korea Eximbank, and KIND, will endeavour to successfully organise multiple events in the name of Korea Week 2023 to provide more business and entertainment opportunities to Bangladeshi business society and K-Culture lovers."

Emphasising that bilateral trade volume reached an all-time high of $3.4 billion in 2022, Ambassador Lee said he is committed to developing economic relations between the two countries. To that end, "Showcase Korea 2023" will play a significant role as both the countries' businessmen will be able to find more opportunities for collaboration. 

In "Showcase Korea" – a display of Korean goods on 25-26 February – more than 40 companies will participate. LG will sponsor the event. 

For "Kpop Teams Live Concert" on 25 February, sponsored by Samsung Galaxy, boy group "TAN", girl group "ICU", and taekwondo performance team "Nolja" will come to Dhaka.

In addition, Korean food, electronic products, and information about tourism in South Korea will be presented to Bangladeshi people at various cultural events throughout the week, sponsored by Korea International Cooperation Agency (KOICA). 

The events will start at 10 am and continue till 7 pm. Tickets for Kpop Live Concert (including taekwondo performance) are available through the website www.koreaweek2023.com. 

Korea Cup Golf Tournament will be held at Kurmitola Golf Club, Dhaka Cantonment on 1-2 March and an award show will be held on 3 March. 

Since establishing diplomatic ties between Korea and Bangladesh in 1973, Korea has been enhancing cooperation with Bangladesh in various fields, such as economy, culture, politics, garment, electronics, development cooperation, and human exchange. 

Korea is Bangladesh's fifth largest FDI investor, with $1.3 billion invested. Almost 200 Korean companies have already invested in various sectors starting from the readymade garments. 

Recently, its investment has been diversified to include infrastructure, energy, and consumer goods such as electronics, thereby contributing to the further expansion of bilateral collaboration.

The South Korea International Trade Association (SKITA) estimates that the two nations' bilateral trade volume reached $3.035 billion in 2022, a 38.71% increase from $2.188 billion the year before.

Yong Oh Yu, chairman of the Korean Community in Bangladesh, said Korea recognised the newly independent Bangladesh in May 1972, and consular connections were established in September 1973, followed by diplomatic relations in December 1973.

"South Korea is considering introducing big Korean companies such as Samsung and Hyundai to Bangladesh to engage in construction, engineering, electronics, and autos as Bangladesh improves its investment environment and expands its market base," said Yong Oh Yu.

Korean company Samsung has established a manufacturing plant in Narsingdi where mobile phones, refrigerators, televisions, air conditioners, microwave ovens and washing machines are being manufactured.