On 26 January, Chairman of the Myanmar Korean Chamber of Commerce and Industry (MKCCI) Park Jeong Hwan met with Chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) Aye Win in Yangon, according to local media outlets.
During the meeting, Park Jeong Hwan said the Korean investors in Myanmar are currently experiencing power shortages, visa issues, and challenges related to the current exchange rate regime. kyat-dollar Restrictions on import and export licenses have also posed a challenge for businesses.
Park Jeong Hwan said Korean investors need support, guidance and advice from the UMFCCI to run their operations smoothly and create more business opportunities.
The UMFCCI chair said the issues presented would be submitted to policymakers and respective ministries for consideration. No further details were provided.
It was reported that there are currently around 200 Korean companies in Myanmar and 100 out of them are in the garment sector.