South Korea to establish industrial park

South Korean investors eye establishing an industrial park in Dala township, the opposite bank of Yangon River which links urban Yangon, official media reported Monday. The expected move comes as the S. Korean government is planning to build a friendship bridge crossing the Yangon River to link urban Yangon with Dala. Now early 50,000 workers have to travel cross the Yangon River everyday by ferry boats to work in urban Yangon. Dala, which is accessible by waterways, has plenty of land resources and work force to enable foreign company to make such investment. Meanwhile, South Korea has agreed in June to provide 500 million U.S. dollars' loan to Myanmar for the year 2013 to 2017. Official statistics show that S. Korean investment in Myanmar amounted to 2.979 billion U.S. dollars in 77 projects, accounting for 7.07 percent of the total as of March 2013, since Myanmar opened to such investment in late 1988 and ranking the 4th in Myanmar's foreign investment line-up. Bilateral trade between Myanmar and S. Korea reached 573.4 million U.S.dollars in 2012, of which Myanmar's export to S. Korea accounted for 237.58 million dollars while its import stood at 335. 82 million dollars.