International Economic Developments

Korean Ambassador Pledges New Investments and Strengthened Ties with Sri Lanka

The Ambassador of the Republic of Korea, Miyon Lee, paid a courtesy visit to President Anura Kumara Dissanayake at the Presidential Secretariat on October 9th. The meeting marked a significant step in strengthening the bilateral relations between Korea and Sri Lanka.

Ambassador Lee congratulated President Dissanayake on his inauguration and extended best wishes from Korean President Yoon Suk Yeol. She expressed the desire to enhance cooperation between the two nations under the new leadership and reaffirmed that Korean companies are ready to recommence investments in Sri Lanka. Ambassador Lee also emphasized the importance of Sri Lanka maintaining transparency and implementing streamlined policies to attract foreign direct investment.

Furthermore, Ambassador Lee highlighted Korea’s ongoing support for Sri Lanka in sectors such as education, health, and people-to-people exchanges. She outlined Korea’s intentions to collaborate on digitalization, climate change initiatives, and renewable energy development. The Ambassador also acknowledged the efforts of Korean government agencies such as KOICA, KOFIH, and Saemaul Foundation, which are actively involved in Sri Lanka, and called for continued support from the Sri Lankan government for their activities.

As Sri Lanka works toward its debt restructuring program in line with IMF commitments, Ambassador Lee expressed her support and reaffirmed Korea Exim Bank’s commitment to renewing the framework agreement for loan projects to Sri Lanka.

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