At the invitation of President Yoon Suk-yeol of South Korea, Prime Minister Hun Manet has declared that he will head a high-ranking Cambodian delegation on a state visit to the Republic of Korea in May 2024. The declaration was made at the Council of Ministers meeting, which took place at the Peace Palace in Phnom Penh of Cambodia.

In order to support the Cambodian economy and generate employment opportunities for Cambodian people, Prime Minister Hun Manet emphasized his commitment to luring international investment. "We will also talk about boosting investment from South Korea," Manet said.

According to the General Department of Customs and Excise of Cambodia, Korea is currently the 12th-largest commercial partner of the Kingdom, behind China, the US, Vietnam, Thailand, Japan, Indonesia, Germany, Canada, Singapore, the UK, and Taiwan.

In the first quarter of 2023, Korea accounted for almost 10% of all foreign direct investment (FDI) in the Kingdom, with finance totaling 22.4 trillion riel ($5.467 billion), making it the second-largest source behind the United States, according to the National Bank of Cambodia (NBC).

As the country's new prime minister, Hun Manet stands for stability and leadership in Cambodian politics. His meeting with President Yoon Suk Yeol, who is in charge of a strong economy and a vital regional ally, emphasizes how crucial it is to develop close relations between the two countries.

Both leaders will have the chance to discuss important topics during this summit, including trade relations, security collaboration, and cross-cultural interactions. The conclusions of their talks may have a significant impact on Southeast Asia's and East Asia's sociopolitical environments.

Important topics of conversation in international diplomacy are cooperation and bilateral ties. It is anticipated that important conversation points on these subjects will be at the top of Hun Manet and President Yoon Suk Yeol's agenda when they get together in 2024. It is probable that the heads of state would investigate ways to strengthen the current connections between their nations, pinpoint shared interests, and look for chances to work together.

This is will be there second time to meet verbally, their first meeting was during the last ASEAN Summit in Indonesia. Hun Manet should find the most appropriate topics to talk with Korean president and ensure that those topics will be effectively considered by South Korean government.

President Yoon Suk Yeol and Hun Manet may talk about bilateral relations while addressing topics like investment, trade, security, and cross-cultural interactions. Through trade agreements, cooperative ventures that benefit both countries, and investment initiatives, they could try to increase economic cooperation. Talks about defense alliances, regional stability, and counterterrorism initiatives could also be included in security cooperation meetings.

As a good neighboring country with Vietnam, Cambodia should understand why Vietnam attracted many Korean investors to invest in Vietnam? And why Korean investors trust Vietnam more than Cambodia? Sometimes it is hard to listen but it is better to speak it out, and sometimes it is very important to listen to the bitter truth rather than listening to the sweet lie. Cambodian government should understand the real situation and try to improve its internal capacity in order to develop the country.

Hun Manet and President Yoon Suk Yeol can endeavor to strengthen their nations' economies and foster sustainable prosperity by encouraging trade alliances, investment opportunities, and joint ventures. In order to improve sectors like industry, agriculture, and technology, this partnership may entail exchanging knowledge, resources, and technological advancements.

It is also critical that Hun Manet and President Yoon Suk Yeol discuss regional and global issues that affect their respective nations as well as the larger international community. These difficulties could include matters of the economy, security, sustainability of the environment, and diplomatic relations with surrounding nations.

Strong diplomatic ties and mutual understanding between Cambodia and South Korea are fostered by cultural exchanges and interpersonal relationships between countries. Discussions about cultural exchanges between high-ranking officials like President Yoon Suk Yeol and Hun Manet create opportunities for cooperation in a variety of industries, including the arts, education, sports, and tourism.

This year Cambodia and China have signed an agreement on people-to-people exchange, Cambodia should consider to have this kind of the same program with South Korea because Korea is the first country who came to Cambodia after the first election in 1993. There are many things in Phnom Penh to proof that Korea is the first country that wanted to support Cambodia after Cambodia held their first election already.

The relationships between peoples of Cambodia and Korea serve as the cornerstone of diplomacy because they allow people to engage, share knowledge, and forge friendships that cut beyond national boundaries. Increased tourism, academic exchanges, commercial collaborations, and community-based projects that foster a stronger feeling of respect and cooperation can all result from these relationships.

One of the most important aspects of Hun Manet and President Yoon Suk Yeol's meeting in May 2024 is their cooperation in security and defense. It is impossible to overestimate the significance of cooperation in maintaining peace and stability in today's world.

Interestingly, there are a number of ways that Cambodia can entice more Korean investors to make investments there. For example, Cambodia can leverage ASEAN strategies to draw in Korean investors, and the government of Cambodia should think about creating a Special Economic Zone along the Vietnam-Cambodia border. This will allow Korean investors to learn more about Cambodia and expand their scope of consideration if they discover that there are numerous opportunities for them to operate businesses in Cambodia.

Ultimately, the meeting between Hun Manet and President Yeol would have an influence that goes beyond bilateral ties by providing a forum for respectful communication, strategic alignment, and constructive discourse. However, if Hun Manet really wants to have a fruitful discussion with Korea, Hun Manet should know what Korea wants to get from Cambodia? How Korean think about Cambodia? And what else should Cambodia do to restore the trust of South Korean investors to come to Cambodia again?

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Seun Sam is a policy analyst of the Royal Academy of Cambodia.