PHNOM PENH (AKP)-South Korean automotive supplier Yura Harness Cambodia is planning to expand its investment in Cambodia as the Kingdom continues efforts to position itself as a regional hub for automotive parts manufacturing.
The expansion plan was discussed during a meeting on May 28 between H.E. Chea Vuthy, Secretary General of the Cambodia Investment Board at the Council for the Development of Cambodia (CDC), and a delegation from Yura Harness Cambodia led by its Chief Executive Officer, Mr. DooYeun Lee.
Yura Harness Cambodia, a Republic of Korea-based company specialising in automotive wiring harness production, has operated in Cambodia since 2022 and currently employs around 1,100 workers.
During the meeting, Mr. DooYeun Lee said the company’s investment activities in Cambodia had continued to improve and outlined plans to expand operations. The expansion is expected to create additional employment opportunities and increase demand for locally sourced raw materials.
He also raised the importance of skills development for Cambodian workers, noting that the company was consulting on training programmes to strengthen workforce capabilities in the automotive sector.
Drawing on his experience working in Cambodia’s automotive industry over the past few years, Mr. DooYeun Lee said Cambodia holds significant potential for automotive parts manufacturing and shared recommendations aimed at improving the country’s investment climate further.
H.E. Chea Vuthy welcomed the company’s continued commitment to Cambodia and expressed support for both the investment expansion and worker training initiatives.
He highlighted the Royal Government’s ongoing efforts to improve the investment environment through infrastructure upgrades and support measures for the private sector to strengthen Cambodia’s competitiveness amid global economic uncertainty.
Mr. Seun Sam, Policy Analyst at the Royal Academy of Cambodia, welcomed the expansion plan, saying Cambodia and South Korea should continue strengthening trade and investment ties.
“Regional competition to attract foreign investment is increasing, so strengthening investment cooperation is important for mutual benefit,” he said.