SL, South Korea trade potential underutilized: Ambassador

SL, South Korea trade potential underutilized: Ambassador

Sri Lanka and South Korea should join together in promoting more bilateral trade, said Ambassador of the Republic of South Korea to Sri Lanka, Heon Lee. Currently, the total trade is around US$ 352 million, while Sri Lanka exports are only USD 52 million.The Ambassador said the two countries should try to increase this figure as there is a tremendous potential to increase this. Questioned as to why Korean entrepreneurs are not investing in Sri Lanka, he said that one issue was lack of skilled labour. “This is the reason why most of the Korean investments have gone to Vietnam, Indonesia and China.”He also said that there were many investors especially in the apparel sector in the in Sri Lanka in the 1990s, but they had moved out to China.