South Korea, Relations with

   Korea, Republic of, Relations with
   Soon after the State Law and Order Restoration Council seized power and initiated an "open economy" policy in 1988-1989, Daewoo, a South Korea chaebol (business conglomerate), established a presence in Burma, especially in the electronics sector. Other major firms, such as Hyundai and Lucky-Goldstar, have also become involved in projects during the 1990s and early 21st century, and Korean private foreign investment totaled about US$100 million. The largest single project, development of an extensive natural gas field in the Bay of Bengal off the coast of Arakan (Rakhine) State, involves the participation of Daewoo International in exploration. Although Korean president Kim Dae-jung, a veteran of human rights struggles in his own country, expressed solidarity with Aung San Suu Kyi while in office (1998-2003), the relationship between Seoul and Rangoon (Yangon) remains primarily economic in nature. The South Korean government supplies Burma with some foreign aid and technical training.

Historical Dictionary of Burma (Myanmar). . 2014.

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