South Korea Sees Scope To Deepen Bangladesh Ties In Manufacturing, Technology And Investment: Ambassador Kim Ji-Joon

Dhaka, September 25, 2026 — Bangladesh and South Korea have significant scope to expand economic cooperation, particularly in manufacturing, technology and investment, South Korean Ambassador to Bangladesh Kim Ji-Joon said during a visit to LG Electronics' local manufacturing facility operated by RANCON in Bangladesh.

🇰🇷 The ambassador was accompanied by a high-level delegation from LG Electronics Singapore (Bangladesh Branch). The visit signals growing South Korean interest in Bangladesh as a manufacturing and investment destination — building on a long-standing economic relationship that dates back to the 1970s.

💬 Ambassador's Remarks

Speaking on the occasion, Kim Ji-Joon said the two countries share a long-standing and strong economic relationship, which provides a foundation for further expanding bilateral economic ties.

💬 “There is significant potential to further expand cooperation between the two countries in the areas of manufacturing, technology, and investment in the future,” he said.

🏢 The RANCON-LG Electronics Partnership

During the visit, the delegation gained detailed insights into RANCON's LG Electronics manufacturing operations, including:

• 🏢 Production processes
• 🏢 Technology integration
• 🏢 Quality standards

They also toured RANCON's other production facilities, particularly its automotive operations, and were briefed on the company's diversified business activities.

RANCON (Rahman Group) is one of Bangladesh's largest diversified conglomerates, with operations spanning:

• 🏍 Automotive — including RANCON Motor Bikes (Suzuki distributor) and other vehicle operations.
• 🔌 Electronics — including LG Electronics manufacturing.
• 🏢 Real estate and other sectors.

💬 RANCON Group MD's Remarks

A courtesy meeting and exchange of views were held between the delegation and Romo Rouf Chowdhury, group managing director of RANCON Group, focusing on:

• 🤝 Trade
• 🤝 Investment
• 🤝 Technological collaboration
• 🤝 Future business opportunities between Bangladesh and South Korea.

💬 Romo Rouf Chowdhury said, “We are delighted to welcome Ambassador Kim Ji-Joon and the delegation from LG Electronics to RANCON.”

💬 “We look forward to exploring and realising new opportunities for collaboration in technology, investment and business between RANCON and LG Electronics,” he added.

👥 Other Delegation Members

Other participants in the visit included:

• 👥 Gerald Chun — managing director of LG Electronics Singapore (Bangladesh Branch)
• 👥 Farhana Karim — and other senior RANCON officials

🌏 Bangladesh-South Korea Economic Relationship

Bangladesh and South Korea have maintained strong economic ties for decades. Key features of the relationship include:

• 💰 FDI from South Korea — South Korea has been a significant investor in Bangladesh, particularly in the RMG and textile sectors.
• 💰 Labour migration — South Korea has been a destination for Bangladeshi workers under the EPS (Employment Permit System).
• 💰 Bilateral trade — with Bangladesh primarily importing Korean machinery, electronics, and chemicals, while exporting RMG products.
• 💰 Development assistance — through KOICA (Korea International Cooperation Agency) and other channels.
• 💰 Korea-Bangladesh Chamber of Commerce & Industry — facilitating private-sector engagement.

🏢 South Korean Investment In Bangladesh

South Korean investment in Bangladesh includes:

• 🏭 Youngone Corporation — one of the largest foreign investors in Bangladesh's RMG sector, operating in the Korean Export Processing Zone (KEPZ) in Chattogram.
• 🏭 LG Electronics — manufacturing through RANCON partnership.
• 🏭 Samsung — with supply chain presence in electronics manufacturing.
• 🏭 Hyundai — with automotive and construction equipment interests.
• 🏭 KIA — vehicle distribution and potential assembly.

📊 Bangladesh-Korea Trade Snapshot

• 🇧🇩 Bangladesh imports from South Korea: primarily electronics, machinery, automotive parts, chemicals, and textiles.
• 🇧🇩 Bangladesh exports to South Korea: primarily RMG products, leather goods, and agricultural products.
• 🇧🇩 Trade balance: traditionally in South Korea's favour, though Bangladesh's RMG exports have been growing.

💼 Why This Visit Matters For Bangladesh

The ambassador's visit to RANCON's LG Electronics facility signals several strategic developments:

• 💼 Manufacturing deepening — South Korean companies are increasingly viewing Bangladesh as a manufacturing base, not just a sourcing destination.
• 💼 Technology transfer — the visit's focus on technology integration suggests potential for deeper technology collaboration.
• 💼 Investment pipeline — the ambassador's optimistic language about “future” cooperation suggests additional Korean investment may be in the pipeline.
• 💼 Electronics sector development — LG Electronics' local manufacturing operation through RANCON is a model for other electronics brands considering Bangladesh.
• 💼 Automotive sector potential — the delegation's tour of RANCON's automotive operations suggests potential interest in vehicle manufacturing collaboration.

🌏 The Broader Bangladesh-South Korea Strategic Context

The ambassador's visit comes at a moment of broader strategic alignment between Bangladesh and South Korea:

• 🇰🇷 LDC graduation preparation — Bangladesh needs diversified trade and investment partnerships as it prepares for LDC graduation in 2026.
• 🇰🇷 South Korea's Asia diversification — Korean companies are diversifying their Asian manufacturing bases beyond China.
• 🇰🇷 Defence cooperation — Bangladesh has been expanding defence procurement from South Korea, including naval vessels.
• 🇰🇷 Infrastructure development — Korean companies have been involved in Bangladesh's infrastructure projects.

💼 LG Electronics' Bangladesh Manufacturing: A Case Study

LG Electronics' manufacturing operation through RANCON represents a successful model of foreign brand-local partner collaboration in Bangladesh's electronics sector. The model involves:

• 🔌 LG providing technology, design, and brand
• 🔌 RANCON providing local manufacturing, distribution, and market knowledge
• 🔌 Joint investment in production facilities and quality systems

This model could be replicated by other global electronics brands considering Bangladesh as a manufacturing base — particularly for products targeting the South Asian market.

📜 Looking Ahead

The visit's focus on manufacturing, technology, and investment — along with the ambassador's optimistic language about future cooperation — suggests that Bangladesh-South Korea economic relations are poised for further deepening.

For Bangladesh, the potential benefits include:

• 💰 Additional FDI from Korean companies.
• 💰 Technology transfer in electronics, automotive, and manufacturing.
• 💰 Skills development through Korean training and capacity building.
• 💰 Export diversification into electronics and automotive components.
• 💰 Reduced import dependence for electronics through domestic manufacturing.

For South Korea, Bangladesh offers:

• 🌏 A cost-competitive manufacturing base for South Asian markets.
• 🌏 A growing consumer market of 170 million people.
• 🌏 Preferential market access to South Asian neighbours.
• 🌏 A skilled workforce in manufacturing and assembly.

Participants expressed optimism that the visit would further strengthen the long-standing economic relationship between Bangladesh and South Korea while opening new avenues for cooperation in manufacturing, technology and investment.

For RANCON, the visit reinforces its position as a key bridge between Korean technology brands and Bangladesh's manufacturing ecosystem — a role that is likely to expand as the bilateral economic relationship deepens in the coming years.