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MAI to start Yangon-Seoul direct flight service on December 3

Myanmar Airways International (MAI) is going to begin Yangon-Seoul direct flight service between Myanmar and the Republic of Korea (ROK) on December 3. The MAI made this plan in partnership with Meebang Air Agencies to enter the flight service market of ROK. “I feel glad to be able to appoint Meebang as our agent. Their […]

Myanmar Has Been Obsessed with Korean Culture for Two Decades and Now, The Wave is Hitting

YANGON: Zay Linn Htike remembers as a boy waiting to watch his family’s favourite Korean drama series at home. It was called Autumn In My Heart, a program that swept Myanmar close to two decades ago. “We didn’t have a generator. So if there was an electricity blackout, my mother grabbed me and went to […]

Dawei SEZ Draws Investor Interest, but Lacks Infrastructure

Businesses from China, Thailand, Korea and Japan, including those from the power and logistics sectors, have said they are keen to invest in the Dawei Special Economic Zone (SEZ) in Tanintharyi, which is near the Thai border. Investor interest in Dawei, which has yet to be developed, has been on the rise since Myanmar and […]

Korea-Myanmar Industrial Complex to Begin Construction This Year

YANGON—The Korea-Myanmar joint industrial complex, the first of its kind in economic cooperation between the Korean and Myanmar governments, will begin construction this year in Hlegu Township, Yangon Region, according to Myanmar Investment Commission (MIC) Director U Thant Sin Lwin. “This is the first cooperation between the Korean and Myanmar governments,” he said during a […]

Myanmar, Korea sign MoUs on preliminary survey of Dala New City Project and housing finance

Myanmar and South Korea have signed a memorandum of understanding on the preliminary survey of the Dala New City Project and an MoU on financial cooperation in the real estate sector, according to the Korea-Myanmar business forum held at the Lotte Hotel in Yangon on September 4. “As we launch Korea-Myanmar Industrial Complex (KMIC) and […]

Myanmar Airways International seeks to expand client base in Korea

Myanmar Airways International has appointed Korea’s Meebang Air Agencies Co as its general sales agent (GSA) to facilitate collaborations with a network of trade partners in the country to offer Korean travelers affordable air travel options to and from Myanmar. As part of the largest airline group in Myanmar, which also includes Air KBZ, Myanmar […]

Myanmar, Korea to Build Industrial Facility North of Yangon

YANGON—Myanmar’s Urban and Housing Development Department (UHDD) on Thursday signed a joint venture agreement with Korea Land and Housing Corporation to establish a joint industrial complex in Hlegu, north of the commercial capital Yangon. Comprising industrial and commercial areas as well as a research-and-development facility and a training school, the Korea Myanmar Industrial Complex (KMIC) […]

Bridge project stirs property prices in Dala

Property prices in Dala Township are rising after construction of a bridge linking Dala to downtown Yangon was finally given the green light on December 24, 2018 after six years of deliberation. Expected to be completed in three and a half years, the US$138 million South Korea-Myanmar Friendship Bridge, will connect Phone Gyi Street, in […]

Koreans launch new Chamber of Commerce, targets more investments

The Myanmar Korean Chamber of Commerce and Industry (MKCCI) launched on December 22 became the latest business group to formally open its doors in the country. The organisation aims to support investments and businesses from the two countries and to boost Myanmar’s economic growth, said Tong Soo Chung, MKCCI’s chair, during the launch. There are […]

Credit bureau to be up and running within next 12 months

Myanmar will start collecting and providing credit data after a new credit bureau opens in the next 9-12 months, after which banks will be in a better position to offer loans to a larger volume of businesses, said U Zaw Lin Aung, chair of Myanmar Credit Bureau Ltd. Myanmar Credit Bureau yesterday signed an agreement […]