The Korea Trade-Investment Promotion Agency said Sunday that it has opened a “Korea Desk” in Myanmar to support trade and investment between the two countries.

Launched with the backing of South Korea’s Ministry of Trade, Industry and Energy and Myanmar’s Commerce and Investment ministries, the Myanmar Korea Desk will offer help to companies from both countries wishing to branch out into each other’s markets.

While Korean businesses in Myanmar can receive new or increased capital investment as well as help in resolving difficulties, local companies will now get assistance in entering the Korean market.

The desk has been installed at the Myanmar Trade Promotion Organization (MyanTrade) and the Directorate of Investment and Company Administration, a government agency under the Ministry of Investment and Foreign Economic Relations.

Staff from KOTRA, MyanTrade and DICA will work together to help businesses from both countries.

Kwon Pyung-oh, president of KOTRA, said Myanmar is one of only three countries that fall under Korea’s New Southern Policy where a Korea Desk has been set up. The others are India and Vietnam.

“We will continue to work with local agencies to ensure that the Korea Desk becomes a crucial part in Korea-Myanmar business cooperation,” he said.

By Yim Hyun-su (hyunsu@heraldcorp.com)