YANGON, June 20 (Xinhua) -- The South Korean government will build a friendship bridge crossing the Yangon River to link urban Yangon with Dala township, the other bank of Yangon river, local daily reported Thursday.
The plan was discussed when a South Korean delegation led by Deputy Prime Minister and Minister of Strategy and Finance Hyun Oh- Seok met with Myanmar Ministry concerned in Nay Phi Taw, said the Yangon Times Daily.
An industrial zone is expected to be established in Dala where there is plenty of land areas and work force to enable S. Korean company to make investment in the industrial zone.
There are nearly 50,000 workers from Dala crossing the Yangon River everyday by ferry boats to work in Yangon, the only means for local people to travel as there is never a bridge between Yangon and Dala.
Meanwhile, South Korea has agreed to provide 500 million U.S. dollars' loan to Myanmar for the year 2013 to 2017 from its Economic Development Cooperation Funds according to a Myanmar-S. Korea joint committee for economic cooperation.
Official statistics show that S. Korean investment in Myanmar amounted to 2.979 billion U.S. dollars in 77 projects, accounting for merely 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.
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