Bangladesh has a new government under the leadership of Prime Minister Tarique Rahman. How will the Korean government see Dhaka-Seoul diplomatic relations in the coming days?
Bangladesh and South Korea have been enjoying strong bilateral political and economic relations since the establishment of diplomatic relations in 1973. In the political arena, two countries have excellent relations. Under the new government of Bangladesh led by Hon’ble Prime Minister Tarique Rahman, Bangladesh–Republic of Korea (ROK) relations are expected to maintain continuity while gradually evolving toward a more comprehensive and strategic partnership anchored in economic diplomacy. Mentionable, South Korea also passed through a short turbulent period in terms of its domestic politics and the new government under His Excellency President Lee Jae Myung took office in less than one year, following the presidential election in June 2025. The new Korean government is also very proactive in terms of foreign relations as the new President has laid out a pragmatic approach, particularly with renewed focus on collaboration with countries in the global south. This equips Bangladesh with a strategic leverage to engage with the ROK diplomatically for the mutual benefit of both the countries and the peoples. Diplomatic engagement between the two countries remains steady and non-contentious, with regular high-level interactions and cooperation in multilateral forums. South Korea remains as a significant humanitarian donor for the forcibly displaced Rohingya population in Bangladesh, and has supported all resolutions in the UN system related to the Rohingya crisis. Bangladesh has always expressed its support to a nuclear-free Korean peninsula and peace and stability in East Asia. The two countries are also willing to continue and expand existing defence cooperation. In the economic arena, Dhaka has prioritized diversification of trade partners and is actively pursuing a Comprehensive Economic Partnership Agreement (CEPA) with South Korea encompassing areas of trade facilitation, investment and service sector collaboration. In fact, the third round of bilateral negotiations on the proposed CEPA has just been concluded in Seoul in April 2026; and two sides are optimistic to conclude the agreement within this year. Bilateral ties, traditionally driven by trade and development cooperation, are increasingly expanding into high-value sectors such as manufacturing, ICT, infrastructure, transportation and energy;
with over two hundred Korean firms already operating in Bangladesh. The Korean EPZ (KEPZ) in Bangladesh continues to contribute to the economy of Bangladesh, and the potential of fostering further mutually beneficial growth in the KEPZ is high. South Korea remains a key development partner, continuing its support through ODA, skills development and capacity- building initiatives. At the same time, people-to-people linkages—particularly through labor migration under the Employment Permit System—continue to play an important role, while new sectors like shipbuilding and seasonal agricultural works have also been opened up for Bangladeshi workers. The new Korean government is also making efforts to ensure expanded opportunities and better protections for migrant workers. Cultural exchanges are also enhancing, especially due to the huge interest in K-pop, K-drama, K-food etc. among Bangladeshi youths.
Looking ahead, both sides are exploring cooperation in emerging areas such as the digital economy, artificial intelligence, semiconductor design, renewable energy, and climate change. Overall, Bangladesh–ROK relations under the new government reflect a transition from a traditional aid and trade-based partnership to a more diversified, investment-led, and technology-oriented engagement.
What is your target to reach bilateral trade between Bangladesh and South Korea within the next five years?
Bilateral trade between Bangladesh and South Korea has expanded steadily over the past decade, transitioning from a stagnant sub-$2 billion level in the early 2010s to crossing the $3 billion mark in 2022, driven largely by a surge in Korean exports of fuel, machinery, and industrial inputs, alongside gradual growth in Bangladesh’s garment exports. Trade remained relatively flat between 2013–2019 (around $1.5–1.8 billion), declined slightly during the COVID-19 period in 2020, and then rebounded strongly, reaching about $2.19 billion in 2021 and a record $3.03 billion in 2022 (up nearly 39%). Recent data suggest continued momentum, with trade hovering around $3.0–3.3 billion during 2023–2024, supported by strong Korean exports (about $1.3 billion in 2024) and moderate recovery in Bangladesh exports. The trade structure remains asymmetrical, with Bangladesh importing petroleum products, chemicals and plastics, iron and steel, machinery, and electronics from South Korea, while exporting primarily ready-made garments (RMG), textiles, footwear, and leather goods.
Over the last five years, fuel imports surged sharply (over 700% spike in 2022), machinery and industrial inputs grew by 20–30%, and Bangladesh’s apparel exports increased modestly by around 20–25%, indicating gradual diversification but continued dependence on one traditional sector. This Embassy is making efforts to diversify our export basket to Korea, through holding seminars, visits of business delegations, active marketing of Bangladeshi products, and addressing non-tariff barriers like quarantine requirements for exporting agricultural and food products. Looking ahead, with ongoing discussions on CEPA and industrial cooperation, bilateral trade is projected to grow at 6–8% annually, potentially reaching $3.5–3.7 billion by 2027 and around $4.0 billion by 2028, assuming stable global demand and improved market access. With sharp focus on trade in high-value sectors like ship- building, semiconductors, renewable energy and technology, the figures can be immensely improved in the longer run. Overall, Bangladesh–ROK trade is expected to remain upward but moderately paced, with future growth hinging on CEPA negotiations, diversification beyond garments, and increased Korean investment in Bangladesh’s manufacturing and energy sectors.
Some 11 lakh Rohingyas are living in Cox’s Bazar putting pressure on the socio- economic condition of Bangladesh. The existence of the Rohingyas has put the environment at risk. What are Korean views on the Rohingya crisis in Bangladesh? How can South Korea help Bangladesh in this regard?
South Korea has consistently maintained a supportive yet cautious position on the Rohingya crisis in Bangladesh, emphasizing humanitarian assistance, voluntary repatriation, and the need for a peaceful resolution in Myanmar. Seoul has provided financial aid through bilateral channels and international organizations such as UNHCR and WFP, contributing to
relief efforts for Rohingya refugees hosted in Cox’s Bazar. At the diplomatic level, South Korea has supported all UN resolutions in the General Assembly, Security Council and Human Rights Council; calling for safe, voluntary, and dignified repatriation of the Rohingya population to Myanmar. Going forward, South Korea can further assist Bangladesh by scaling up humanitarian funding, investing in infrastructure and livelihood projects in refugee-hosting areas, and expanding technical cooperation in disaster management and camp administration.
Additionally, Seoul could play a more proactive diplomatic role by leveraging its close bilateral engagement with Myanmar and its strategic cooperation with the ASEAN, with the view to creating conditions conducive to repatriation for displaced Rohingya populations in Bangladesh and elsewhere.
What is the number of Bangladeshis living in South Korea? How do South Korean evaluate the contributions of Bangladeshis to the South Korean economy? Bangladeshi immigrants in South Korea—numbering approximately between 35 and 40 thousand—constitute a small but economically significant diaspora community. Half of them are primarily employed in manufacturing, construction, agriculture, and fisheries under the Employment Permit System (EPS), alongside a growing number of students and small entrepreneurs. In recent times, Bangladesh has been successful to ink a few agreements with the Korean local government entities, enabling scopes of employment of Bangladeshi workers in other sectors like shipbuilding and agriculture. Specifically, there are increased opportunities of employment for Bangladeshi skilled workers in specific sectors, particularly in shipbuilding but also very recently in the power distribution sector. There has been increased interest among Bangladeshi students to enroll in South Korean universities and many of them are getting employed in Korean companies and universities after graduation. Apart from a good number of scholarships provided by Korean government universities, more students at all levels from Bangladesh are nowadays coming to South Korea under self-finance schemes due to favorable conditions in terms of lower tuition fees and opportunity for part time works. It is good to share that generally there exists a positive perception among the natives about the contribution of the Bangladeshi community in South Korea. Bangladeshi workers have a commendable role in addressing labor shortages in Korean small and medium-sized enterprises (SMEs) and so-called “3D” jobs (dirty, dangerous, and difficult) that face declining domestic participation. South Koreans often evaluate Bangladeshi workers as hardworking, adaptable, and reliable, particularly in labor-intensive sectors. However, like many migrant groups they face challenges related to language barriers, workplace conditions, and social integration. The existence of strong labour laws in Korea enables these challenges in most cases, and the Embassy’s labour wing maintains close coordination with the Korean government and employers in this regard. In recent years, there has been increasing recognition of their broader role in sustaining industrial productivity and supporting local economies, especially in rural and semi-urban areas. At the societal level, while full integration remains gradual, multicultural initiatives and community engagement—often supported by local governments and civil society—have helped foster a more inclusive perception, with Bangladeshis increasingly seen as a constructive part of South Korea’s evolving multicultural landscape.
Can South Korea recruit more skilled Bangladeshi manpower, especially doctors, engineers and nurses? Yes—it is possible in principle, but still quite limited in practice for Bangladeshi
professionals such as doctors, engineers, and nurses to work in South Korea. The feasibility varies significantly by profession due to Korea’s strict licensing, language, and immigration systems. For engineers and IT professionals, opportunities are the most accessible. South Korea actively recruits foreign skilled workers under visas like the E-7 (Specialty Occupation), particularly in sectors such as manufacturing, shipbuilding, semiconductors, and software. Bangladeshi engineers with strong qualifications and experience—especially those with Korean language skills or degrees from Korean institutions—can find employment in SMEs and increasingly in tech firms. For nurses, recruitment is possible but still limited and evolving. South Korea faces a
growing shortage of healthcare workers due to its aging population, and pilot programs have explored bringing in foreign nurses. However, candidates must pass Korean licensing exams, demonstrate proficiency in the Korean language (TOPIK), and often undergo additional training or adaptation periods. Bilateral arrangements could expand this pathway in the future.
The pathway remains the most restrictive for doctors. According to local regulations, foreign- trained doctors must pass the Korean Medical Licensing Examination and meet stringent certification and language requirements. In practice, very few foreign doctors—including Bangladeshis—are able to enter the Korean healthcare system unless they are involved in research, academia, or international clinics.
South Korea has a number of reputed and world standard universities. Can South
Korea give free scholarships to Bangladeshis in higher education? South Korea offers a wide range of scholarship opportunities for Bangladeshi students, reflecting its strong higher education system and growing emphasis on internationalization. Many top universities offer generous funding schemes at undergraduate, master’s, and doctoral levels. The most prominent program is the Global Korea Scholarship (GKS), which provides full funding including tuition fees, monthly stipends, airfare, Korean language
training, and medical insurance. In addition, many universities offer institutional scholarships covering partial to full tuition based on academic merit, research potential, or Korean language proficiency. There are also research assistantships and lab-based funding opportunities, especially in science and engineering fields, where graduate students receive stipends while working on funded projects. Some Korean government ministries and organizations further provide specialized scholarships in areas like ICT, public policy, and development studies, often targeting students from developing countries including Bangladesh. In addition, there are few other opportunities for Bangladeshi government officers and academia from public universities to undergo courses in masters and doctoral levels in Korean universities, funded by KOICA, ADB and World Bank. Considering shortage of students in contrast to the availability of huge infrastructures throughout different regions of Korea, the government is strongly encouraging enrollment of foreign students in Korean universities, which is surely helping in bringing in a good number of Bangladeshi students in South Korea in recent years.
Foreign direct investment (FDI) flow to Bangladesh dropped in the last two years. The new government is pursuing a policy to woo foreign direct investment. Do you see more South Korean investment in Bangladesh, particularly in the power and energy sectors? How do Korean entrepreneurs see the investment environment?
Foreign direct investment situation in Bangladesh has not been on a much favorable trajectory over the last few years, despite rigorous efforts from the government mechanisms to build up on it. Concerning South Korea, the new governments in both the capitals definitely offer a sign of stability in domestic politics, policies and economy, the most important potential indicators to thrive investment to and from a country. With its demographic advantage, competitive labor cost, overall cheaper cost of production and huge domestic market, Bangladesh has already been able to position itself in a favorable investment destination, which has broadly attracted Korean companies to explore the investment possibilities. This is also true that, in past Bangladesh missed some prime opportunities to attract large-scale FDI from Korean global conglomerates, especially in the KEPZ, which were later diverted to countries like Vietnam. Last October, an investment seminar was organized in Seoul where Mr. Chowdhury Ashik Mahmud Bin Harun, Hon’ble Executive Chairman of Bangladesh Investment Development Authority (BIDA) delivered a keynote speech. More than 150 representatives of Korean companies attended the event with much enthusiasm. The event was followed by a series of meetings over three days, where BIDA leadership met the Korean government and business leaders with a view to projecting the true potential of Bangladesh in hosting Korean investments. Moreover, the Embassy organized a B-2-B matchmaking event titled “Bangladesh:
Your New High-Value Partner for Quality Leather Goods & Footwear” in Seoul where a high- level delegation led by Syed Nasim Manzur, President, Leather goods and Footwear Manufacturers & Exporters Association of Bangladesh (LFMEAB) attended. Representatives of more than 30 Korean importers and manufacturing companies participated in the session and exchanged their views with regard to exploring the leather and footwear sector in Bangladesh. I myself, along with the commercial wing of the Embassy, am regularly meeting Korean government entities, business chambers, large corporations and SME associations to encourage them to consider Bangladesh as their next investment destination. The Korea Bangladesh Chamber of Commerce (KBCCI) and private sector entrepreneurs from Bangladesh are scheduled to participate in a good number of trade and investment related fares in Korea this year, being facilitated by the Embassy with the view to promote trade and investment between Bangladesh and the ROK.
With the active engagement of the Embassy in Seoul, it is expected that Korean investment in Bangladesh in diverse sectors will grow in the near future. As mentioned earlier, both the governments are seriously working on concluding the CEPA, which will pave the way for further scopes of FDI in Bangladesh.
Please brief about the South Korean economy? The Republic of Korea is the only country in the world which has transformed itself from a developing aid-recipient nation to a developed donor country. The country’s nominal per capita GDP for 2026 is projected to be approximately US dollar 37,520. This is amazing compared to its per capita income of US dollar 67 in 1953, and even in the 1980s rising from roughly USD 1,700–$2,200 in 1980 to over USD 5,400 by 1989. The ‘miracle on the Han River’, referring to the rapid economic growth in past decades, has elevated the country to a level and status of a truly and fully developed nation; and the developmental saturation point has reached at such a point that there is no scope of sliding back due to any global or regional economic downfall. It is important to understand this to draw the distinction between South Korea (and Japan) and other fast-growing developing countries in Asia. While the large multinational conglomerates (chaebols) like Samsung, Hyundai, LG etc. has been the main driving force behind this mammoth economic prosperity, strong public policies especially huge investment in education and research has also contributed immensely in building today’s South Korean nation as one of the leading knowledge-based, technology-driven and manufacturing- oriented people in the world. Over the past two decades, the economy of the ROK has undergone substantial transformations, evolving from a high-growth export-driven model into a mature, innovation- led economy anchored in advanced manufacturing, technology, and global value chains. Since the mid-2000s, growth has gradually moderated from earlier double-digit expansions to an average of 2–4%, reflecting structural shifts such as population aging, rising labor costs, and increased global competition, while remaining resilient through shocks like the Global Financial Crisis and the COVID-19 pandemic. Key industries—semiconductors, automobiles, shipbuilding, and electronics—led by conglomerates have continued to dominate exports, with semiconductors emerging as the backbone of economic performance in recent years. At the same time, South Korea has faced challenges including slowing down productivity growth, household debt, and demographic decline. In response, the government has introduced a series of forward-looking policies aimed at strengthening economic resilience and competitiveness, including the Korean New Deal (focusing on digital and green transformation), large-scale investments in semiconductor and battery industries, supply chain diversification strategies, and incentives for reshoring high-tech manufacturing. Recent administrations have also emphasized innovation, startup ecosystems, and labor market reforms, alongside measures to boost domestic consumption and support SMEs. Collectively, these efforts reflect South Korea’s transition toward a high-tech, sustainability-oriented, and innovation-driven economy while navigating the constraints of a rapidly aging society and an uncertain global economic environment. At present, the ongoing energy crisis due to the situation in the Middle-East and the uncertain trade scenario created by the US, the economy of the country is facing some stresses, though effects in public life are minimal and the government remains very much in control. This appears that, with renewed efforts to enhance economic cooperation with other countries including China and other Asian countries, South Korea is actively searching for new alternatives to maintain and augment economic growth, as complementary pathways of its robust and traditional economic ties with the West.
Bangladesh has become a mid-income group country. How do members of civil society of South Korea see the economic development of Bangladesh in the last 55 years?
The perception of Bangladesh among civil society in South Korea is generally positive
but still limited in depth, shaped largely by development cooperation, labor migration, and humanitarian engagement. Bangladesh is often viewed as a rapidly growing developing economy with strong potential in manufacturing and human resources, and as a reliable
partner in sectors such as garments and overseas labor. Korean NGOs, academic circles, and volunteer groups—many of which have been active in Bangladesh through aid programs and cultural exchanges—tend to regard the country favorably, highlighting its progress in poverty reduction, education, and resilience in the face of challenges such as climate change and the Rohingya crisis. At the societal level, the presence of Bangladeshi workers and students has contributed to a perception of Bangladeshis as hardworking, community-oriented, and
adaptable. However, there remains further scope to garner broader public awareness about Bangladesh, which is relatively low compared to larger economies as well to countries in South East Asia due to cultural affinity. In past, popular perception in Korea about Bangladesh was very often shaped up by a traditional “aid-recipient” image. In recent years, this image has been gradually evolving, with increasing recognition of Bangladesh’s economic growth,
cultural diversity, and its role as an emerging partner in Asia, supported by growing people-to- people exchanges and business interactions. The Embassy has been proactively taking initiatives to engage with different community platforms in Korea and participating in various multicultural events to showcase and represent the rich heritages, culture and tradition of Bangladesh to the Korean audience.
