Recently, a delegation of electric vehicle (EV) businesses from South Korea and the mayor of Yeonggwang-gun, South Korea’s leading mobility city, visited the Thailand Board of Investment (BOI) to discuss EV investment opportunities in Thailand.
According to BOI Secretary-General Narit Therdsteerasukdi, the purpose of the visit was to study possibilities and discuss opportunities to invest in Thailand, particularly small EVs and commercial vehicles used for transportation and logistics. South Korean EV businesses are interested in Thailand’s EV industry because Thailand is an ASEAN leader in the EV automotive industry. The country has a robust and complete automotive supply chain.
Thailand and South Korea have long been economic partners. In the past five years (from 2018 to June 2023), 144 investment projects from South Korea applied for BOI promotion, with a value of over 58 billion baht (US$1.6 billion). Most projects involve electric appliances, electronics, vehicle parts, steel and metal, and digital businesses. (PRD)
