'Increase in investment opportunities in Sri Lanka'
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Director Cell City Lanka (Pvt) Ltd, Upul Fernando exchanges
the agreement with President, Channel Holdings (Pvt) Ltd,
Seong C. Byun. |
Investments opportunities in Sri Lanka for South Korean companies has
increased, said First Secretary of Embassy of Republic of Korea in Sri
Lanka Jeong Dongik at a tie-up ceremony between CellCity Lanka Ltd. and
Channel Holdings of South Korea to provide easy-payments schemes for
Zigo Mobiles.
He said that trade and economic cooperation between Sri Lanka and
Korea have increased due to the close ties between the two countries.
Sri Lanka has maintained diplomatic ties with the Republic of Korea
since 1977. Korea has been a major investor in Sri Lanka since 1990.
Around 23,000 Sri Lankans are employed in Korea and around 50 Korean
companies have set up businesses in Sri Lanka.
'There are immense opportunities to enhance investments between the
two countries. Joint ventures of this nature will help boost businesses
and enhance economic growth," Dongik said
Sales Manager, Zigo International, Sajith Hewakurumburage said that
internet penetration in Sri Lanka has been low compared to mobile phone
penetration due to the cost of internet facilities. Mobile penetration
in the country has increased rapidly with around 20 million subscribers.
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