Bangladesh and South Korea Deepen Economic Partnership, Eye Investment and AI Cooperation

Photo: CNI

‎Staff Correspondent: Bangladesh and the Republic of Korea have agreed to strengthen their economic partnership, placing greater emphasis on strategic investment, artificial intelligence (AI), advanced technology, infrastructure development and private-sector cooperation.

‎The renewed commitment came during the second working day of the official visit of a high-level Bangladesh delegation to South Korea, led by Finance and Planning Minister Amir Khosru Mahmud Chowdhury, MP. The delegation held a series of meetings with senior Korean government officials, financial institutions, leading corporations and technology companies.
‎During the discussions, Bangladesh highlighted the importance of expanding bilateral cooperation beyond traditional concessional financing, seeking greater Korean participation in investment, industrial development, technological innovation and institutional capital.
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‎Bangladesh Reviews $3 Billion EDCF Framework with KEXIM
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‎At a meeting with Hwang Kiyeon, Chairman and CEO of the Export-Import Bank of Korea (KEXIM), both sides reviewed the US$3 billion Economic Development Cooperation Fund (EDCF) Framework Arrangement for 2023–2027.
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‎Discussions focused on several priority infrastructure projects, including the Dhaka MRT Line-5 Southern Route, the Matlab Uttar–Gazaria Bridge and the procurement of 260 broad-gauge passenger carriages.
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‎KEXIM informed the delegation that EDCF priorities were currently under review and that project proposals would be considered in consultation with relevant Korean authorities.
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‎Bangladesh proposed a clear roadmap for the utilisation of the remaining EDCF resources, while highlighting emerging areas of cooperation such as artificial intelligence, digital transformation, smart infrastructure and resilient supply chains.
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‎Bangladesh Seeks Broader Strategic Economic Dialogue
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‎In a separate meeting with Chang Huh, Second Vice Minister of the Ministry of Finance and Economy of South Korea, Finance and Planning Minister Amir Khosru Mahmud Chowdhury called for elevating bilateral relations to a broader and more strategic level.
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‎Bangladesh highlighted investment opportunities in trade, advanced manufacturing, energy, shipbuilding and digital technologies.
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‎The minister also welcomed South Korea's ongoing technical support for the master planning of the Asian Development Bank (ADB)-supported Integrated Growth and Development (IGND) initiative and encouraged broader Korean participation in its financing and implementation.
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‎The Korean side expressed readiness to continue discussions on AI, digital transformation, alternative financing, future EDCF cooperation and wider engagement in the IGND initiative.
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‎Korean Institutional Investment in Bangladesh Explored
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‎The Bangladesh delegation also held discussions with the Korea Investment Corporation (KIC) on mobilising institutional investment for infrastructure, renewable energy, digital infrastructure and other commercially viable sectors in Bangladesh.
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‎The proposed Bangladesh Sovereign Fund, with a potential size of US$1–2 billion, was discussed as a possible investment vehicle.
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‎Both sides also explored opportunities to combine KIC equity investments with Korea Eximbank financing, including through Korean fund managers.
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‎AI and Digital Transformation Emerge as Key Areas of Cooperation
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‎Artificial intelligence and digital transformation emerged as promising new areas of Bangladesh–South Korea cooperation, reflecting the alignment between Bangladesh's AI ambitions and the Korean government's priorities in advanced technology.
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‎During discussions with LG AI Research, the delegation explored potential collaboration in developing a Bangladeshi Large Language Model (LLM) that reflects the country's cultural and linguistic context.
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‎The discussions also covered AI applications in education, healthcare, manufacturing and public services.
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‎Bangladesh highlighted its ambition to become a regional hub for AI and data centres. Meanwhile, discussions with FuriosaAI focused on strengthening the country's higher-value AI ecosystem.
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‎KEXIM also expressed interest in exploring infrastructure projects incorporating artificial intelligence.
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‎Samsung C&T Expresses Interest in Long-Term Investment
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‎The delegation engaged with several Korean companies to explore investment opportunities in energy, liquefied natural gas (LNG), renewable energy, shipbuilding, advanced manufacturing, urban development and infrastructure.
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‎In discussions with Samsung C&T, both sides explored potential cooperation in infrastructure, renewable energy, urban development, tourism and public-private partnership (PPP) projects.
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‎Opportunities included rooftop and utility-scale solar energy projects as well as selected urban development initiatives.
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‎Samsung C&T expressed interest in expanding its engagement in Bangladesh beyond engineering, procurement and construction (EPC) contracting towards longer-term investment. Both sides agreed to continue technical discussions on priority projects.
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‎At a Korean investment business roundtable organised by Youngone, Bangladesh highlighted opportunities in light engineering and component manufacturing, encouraging Korean companies to explore joint ventures, technology transfer and the integration of Bangladeshi suppliers into Korean value chains.
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‎Towards a New Era of Bangladesh–Korea Economic Relations
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‎The discussions during the second day of the visit reflected a shared interest in transforming Bangladesh–South Korea relations into a broader economic partnership based on trade, investment, technology and mutually beneficial opportunities.
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‎Bangladesh welcomed the growing interest of Korean government institutions, financial organisations, businesses and technology companies in the country's development and investment agenda.
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‎Both sides agreed to continue consultations to translate the discussions into concrete projects, investment partnerships and mutually beneficial outcomes.