China’s Xinhua News Agency says that 120 ethnic-Korean business people worldwide have gathered in Phnom Penh, Cambodia, for their annual conference.

Cambodian Minister for Economy and Finance Keat Chhon said in the opening ceremony Saturday that with ample investment opportunities, Cambodia has great development potential in the agricultural, infrastructure construction, labor-intensive, resource development and tourism industries.

In response, Chairman of the World Federation of Korean Association Kim Deog-ryong said that South Korea is one of major investors in Cambodia and has actively invested in the tourism, IT, financial, real estate industries and projects to build airports.
The Seoul-based federation is an organization of ethnic-Korean businesspeople in 68 foreign countries.

According to Cambodian authorities, South Korea is the largest investor in the Southeast Asian country. South Korea invested 223 million U.S. dollars in 141 Cambodian projects from last year through September this year. The value of assets owned by South Koreans amounts to four billion dollars.