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Thailand and South Korea Advance Economic Partnership with Key Agreements

The Ignite Thailand-Korea Business Forum concluded with commitments to finalize an Economic Partnership Agreement, launch cross-border QR payments, and drive infrastructure modernization projects.

Overview

  • The two-day Ignite Thailand-Korea Business Forum marked the 67th anniversary of bilateral diplomatic relations, hosting 500 attendees, including top officials and business leaders.
  • Thailand and South Korea pledged to finalize their Economic Partnership Agreement following the fifth round of negotiations held earlier this week.
  • A cross-border QR payment service enabling Korean nationals to make digital payments in Thailand will launch in May, reflecting the region's growing digital payment adoption.
  • Thailand promoted its $30 billion Land Bridge project and the Eastern Economic Corridor as major infrastructure initiatives to enhance trade routes and attract foreign investment.
  • The Korea Exchange will implement clearing and settlement infrastructure upgrades for the Thai stock market starting in May to boost efficiency and investor confidence.