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Korean firms flock to ‘Asia’s last frontier’ Myanmar

In line with President Moon Jae-in’s tour of Southeast Asia this week, South Korean business leaders and ranking officials visited Myanmar, the reclusive country bordering China — that is opening up now. Several of them chose to visit Myanmar exclusively –- from Tuesday to Thursday — skipping Moon’s other destinations such as Thailand and Laos. […]

South Korean car maker opens first assembly plant in Myanmar

As the government is pushing for car companies to assemble their vehicles in Myanmar, more international companies are setting up assembly plants in the country. Among the latest is South Korea’s Hyundai. The company launched its plant and its first semi-knocked-down (SKD) model on February 8. The local arm of Hyundai, Shwe Daehan Motorcar Assembly […]

Posco Daewoo to invest $94.2 mn for gas well development in Myanmar

Posco Daewoo Corp., the energy development unit of South Korean steelmaker Posco, will develop new subsea wells for stable gas production near its offshore production base in the A-3 block in Myanmar with an investment of $94.2 million. Drilling of three new wells will start in the first quarter of 2020, the company announced Monday. […]

Can the regional government manage both old and new Yangon?

The Yangon region government has come under flak since March, when it announced the launch of a new Yangon City project at the west bank of Yangon River. If and when the first phase of the US$5 billion development is complete, it will include five village townships, two bridges, 26km of artery roads, 10 sq […]

Fixing the tourism industry

The govt wants to lure tourists back to Myanmar. Will its efforts work? The Myanmar tourism industry has suffered from a big drop in tourists due to the unfolding refugee crisis in northern Rakhine. With the number of visitors from the US and Europe declining sharply over the past year, some tour companies and hoteliers […]

Myanmar to cooperate with S. Korean company in Yangon development project

YANGON, Aug. 13 (Xinhua) — Myanmar’s Yangon regional government will cooperate with a South Korea-based Myanmar Wooree Company in developing Yangon region, the official Global New Light of Myanmar reported Monday. Under a memorandum of understanding signed between the two sides in Yangon on the weekend, the industrial development project area lies on the west […]

South Korean investors eye Asean tourism industry

SOUTH KOREAN investors are interested in expanding their investment in the tourism industry throughout the Asean bloc due to strong interest of international tourists in the region. For example, Daewoo Amara Co Ltd has expanded its initial 2013 investment in the Lotte Hotel Yangon, said CEO Lim Seon Kyu. The joint venture between the Korean […]

39 companies eye Yadanarpon Cyber City project

Thirty-nine local and foreign companies have expressed interest to build the New Mandalay Resort City project, also known as Yadanarpon Cyber City, in Pyin Oo Lwin township, the region’s Housing and Urban Development Department said. The Ministry of Construction called for expression of interest (EOI) applications for the project in February, and 39 companies have […]

Japanese cars enjoy an afterlife in Myanmar, but not for much longer

THE Japanese make cars that last but replace them relatively quickly. The average car in Japan is three years younger than in America. This combination of durable manufacturing and dutiful consumption of a prized national product works out well for the rest of the world; many countries import older Japanese cars in bulk. Secondhand vehicles […]

South Korea’s Daewoo Granted Lease on State-Owned Car Factory, Plans to Start Making Busses Locally

The government has agreed to lease a state-owned factory to a joint venture between South Korean bus-maker Daewoo and local compa­ny Myanmar Trade Centre, paving the way for Daewoo buses to be built locally. By letting the factory, which is located in Htauk Kyant in northern Yangon, the government is putting into action its economic […]