(Unofficial Translation)

The Honorable Prime Minister Prayut Chan-o-cha and distinguished guests, Secretary General Duangjai Asawachintachit of the Thailand Board of Investment, Chairman Park Yongmaan of the Korea Chamber of Commerce and Industry and the many business leaders from Thailand and Korea,

Sawadee krap (Hello)!

I appreciate the warm hospitality of Thailand, the “Land of Smiles.”

Thailand is a beautiful and dynamic country. Soaring skylines are lit up against the night sky, and golden temples complement the lights from boisterous night markets – these aspects of Bangkok, the “City of Angels,” impressed me very deeply.

Thailand, as a pivotal nation in Indochina, is taking initiative within the Thai baht economic sphere. It is ASEAN’s second largest economic powerhouse with balanced development among primary, secondary and tertiary industries represented by agriculture, manufacturing and tourism.

The biggest automotive producer in ASEAN, the number one tourism powerhouse in Southeast Asia and the kitchen of the world – are all still more ways to describe Thailand. 

Thailand has not rested on these accomplishments but is stepping up efforts to foster new future industries and promote national development, including through the Thailand 4.0 policy and the Eastern Economic Corridor development plan, with Prime Minister Prayut playing a central role. Through dynamic strength, it’s achieving over 4 percent economic growth even amid the recent slowdown in the global economy.

All of you business leaders are the protagonists. I extend my respect and praise for your endeavors.

Distinguished guests and business leaders,

Our two countries have long forged a relationship that runs deep. 

An old Korean chronicle records an exchange of envoys between the Thai and Korean medieval kingdoms of Siam and Goryeo in the 14th century.

When the Korean War broke out in 1950, Thailand was the second nation in the world to commit to participating – following the United States – and the first from Asia to do so. It was the only Asian country that sent troops from all branches of its armed forces – army, navy and air force. 

In particular, the Korean people have a special bond to Prime Minister Prayut since he commanded the 21st Royal Thai Regiment, the very unit that fought in the Korean War. 

Thai warriors – whose bravery earned them the nickname “Little Tigers” – fought and died for a little-known nation in the East. A Thai composer who participated in the Korean War made a song titled “Aridang” and helped introduce Korea to Thailand. Koreans will never forget the debt of gratitude owed to Thailand for the help it lent in a time of difficulty.

In 1965, Korea joined in on the construction of Thailand’s first expressway, the Pattani-Narathiwat Highway, and our two countries have become crucial economic partners ever since. 

As recently as a few years ago, the Thai National Taekwondo Team led by Korean coach Choi Young-seok won its first silver medal in Men’s Taekwondo at the Rio 2016 Summer Olympic Games. Hallyu stars hailing from Thailand are also popularly received not only in our two countries but also around the world.

Now, more than 2.3 million Koreans and Thais visit each other’s country annually and share cultures. Bilateral trade volume reached an all-time high of US$14 billion last year as well. The Thai people love Hallyu culture, and the Korean people also love Thai cuisine and culture.

Some 80,000 Thais who work hard in Korea and around 20,000 Koreans residing in Thailand also help promote mutual understanding between our two countries. 

Distinguished business leaders from both countries,

Shortly after taking office, I unveiled the ASEAN-ROK Future Community Vision with a goal to create a people-centered community of peace where everyone can prosper together. In addition, my Administration is also pushing ahead with the New Southern Policy to promote cooperation by bringing our relations with Thailand and other ASEAN member states up to the same level as those of the four major powers who have their interests on the Korean peninsula.

To this end, I promised to visit all 10 ASEAN member states during my term in office, and I'm deeply moved to begin my final leg of the journey here in Bangkok where the first agreement establishing ASEAN was signed.

I look forward to Thailand, ASEAN's leading member and chair country, playing a significant role in realizing the ASEAN-ROK Future Community Vision and New Southern Policy.

Today, I’d like to underscore the three-pronged approach to forward-looking cooperation that will take our bilateral relations to a new height. 

First, our two countries will join forces to respond to the Fourth Industrial Revolution. 

Just a while ago, Prime Minister Prayut and I toured the venue for the “Korea-Thailand Fourth Industrial Revolution Showcase.” We had a test ride in an “e-Tuk Tuk,” a future vehicle that will crisscross downtown Bangkok with a battery pack that has been jointly developed by companies from our two countries. We also met patients who were checking their health with a Korean mobile application at a hospital in Thailand. These occasions were chances for us to experience the future that the two countries will create together.

Thailand is now pushing ahead with Thailand 4.0 policy to intensively foster 12 new industries by applying information and communication technology to various industries, including agriculture, manufacturing and service. Korea is also spurring innovative growth and the promotion of three new key industries: system semiconductors, future vehicles and biohealth.

With regard to this common goal, our two countries signed an MOU on cooperation concerning the Fourth Industrial Revolution today. We've agreed to work together in new forward-looking industries such as future vehicles, robots and bioengineering. The combination of our two countries’ ability to innovate and technological prowess will create great synergy. 

Second, we will strengthen our cooperation to build a startup ecosystem.

Thailand is a land of opportunity for startups. It is home to an outstanding startup ecosystem with such features as a smart visa program; a private technology incubator; and the startup collaboration space HUBBA, the largest of its kind in Southeast Asia.

Thai and Korean startups are also expanding their cooperation. In December last year, a private venture joint fund was established and is now investing in startups in both countries. On the occasion of this visit, an MOU on cooperation between startups will also be signed. 

I’ve heard good news about a number of deals concluded between startups from both countries which participated in today’s Fourth Industrial Revolution Showcase.

The number of startups in Thailand is growing considerably, having increased approximately 30-fold in the last five years. The number of innovative startups in Korea has also reached a new high. With nine unicorn enterprises, Korea is ranked sixth in the world in that regard. When exchanges and mutual investments expand between startups in our two countries, it will serve as a great opportunity for both sides.  

In a short time, Brand K, a nationally certified trademark for SMEs in Korea, will be launched in Bangkok. With both countries’ distributors jointly utilizing Hallyu, innovative, high-quality products from SMEs in Korea will become more readily available to both Korean and Thai consumers.  

Third, we will work together for a free and fair world trade order. 

Market opening and free trade were driving forces behind Thailand and Korea –
once poor farming countries – emerging as manufacturing powerhouses that represent Asia. 

Confronting the protectionism that tends to increase uncertainty in the global economy and cause downward shifts in equilibrium is a duty for our two countries which have benefited from free trade. 

Thailand and Korea will cooperate to conclude the Regional Comprehensive Economic Partnership negotiation as soon as possible. We will also pool our strengths to strongly support an open, inclusive and transparent multilateral trade system based on rules.  

Korea will also actively participate in the cooperation among the countries in the Mekong region. 

Thailand is taking the initiative within ACMECS, the Mekong region economic consultative body, and is leading regional economic cooperation. Korea took part in ACMECS as a development partner in May and intends to pursue cooperative projects worth US$1 million a year by forming a ROK-Mekong Cooperation Fund.    

This coming November, the ASEAN-Republic of Korea Commemorative Summit and the Mekong-Korea Summit will be held in Busan. I hope that they will serve as a precious milestone in Korea and the Mekong nations’ quest for common prosperity. 

The Honorable Prime Minister Prayut, distinguished guests and business leaders from our two countries, 

In June, a meeting between U.S. President Donald Trump and North Korean Chairman Kim Jong Un successfully took place in Panmunjeom, the symbol of division between the two Koreas. For the first time in history, a sitting U.S. president stepped onto North Korean soil. I believe that both the United States and North Korea are solidly committed to dialogue. There are also high expectations for a third North Korea-U.S. summit.   

If permanent peace materializes on the Korean Peninsula, it will also be very rewarding for Thailand, a country which fought in the Korean War. 

In Korea’s Liberation Day speech on August 15, I spoke of a peace-driven economy on the Korean Peninsula, in which peace creates new growth engines and economic growth sustains peace. When peace is established on the Peninsula, a new horizon for economic cooperation between our two countries will emerge and more opportunities will be available for all you business leaders.

I heard there’s a Thai saying about a true friend being like immutable gold. 

Thailand is a true friend to Korea as it gave a helping hand when Korea was in need. Even amid the rapidly changing environment, friendship between our two countries will continue like immutable gold and remain valuable for a long time to come. 
   
Khop khun khrap! (Thank you)