Representatives from 85 South Korean private companies will meet with Burmese counterparts during an economic cooperation forum in April to enhance trade between the two countries.
The Korea Trade-Investment Promotion Agency said participants would have one-to-one trade and investment business meetings and construction and infrastructure meetings on economic development plans and strategies.
Large conglomerates will include Samsung, Daewoo and Posco Steel.
The South Korean companies will seek investments in construction, mining, agriculture, electricity, energy, logistic and freight-forwarding, vehicles and auto parts, communication and multi-media, iron and steel, agro-fishery, timber and wood, financing, real estate, garment, transport, hotel and tourism, civil engineering and industries, the agency said.
Commercial trade between the two countries reached US$ 970 million in 2011, according to Korean statistics.
South Korea's export to Burma amounted to $660, while its import from the Southeast Asian country was about $300 million.
South Korea mainly imports garments, textile, forestry products, agriculture and marine products while exporting construction materials, machines, iron and steel.
South Korea's total investment in Burma was US$ 2.9 billion as of January 2012 in 48 projects since Burma opened to foreign investment in late 1988, according to Burmese government data.
Daewoo is one of Burma’s largest foreign investors, with extensive holdings in the oil and gas industry. While most European and western oil and gas companies do not conduct business in Burma on account of economic sanctions and its poor human rights record, Daewoo has developed natural gas production in Burma. During explorations, Daewoo found one of the largest gas deposits in Southeast Asia, in the Shwe field about 100 kilometres off Sittwe in Rakhine State.
