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Thailand to expand ties with South Korea

Thai Prime Minister Yingluck Shinawatra today reiterated Thailand’s support for South Korean investment in the kingdom and continued collaboration with the Northeast Asian country as a strategic partner

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Thai Prime Minister Yingluck Shinawatra today reiterated Thailand’s support for South Korean investment in the kingdom and continued collaboration with the Northeast Asian country as a strategic partner.

She paid a courtesy call on Park Geun-hye after South Korea’s first female president was sworn in. The two leaders discussed a variety of bilateral issues including cooperation in promoting the roles of women in the region.

Both leaders also agreed to study the possibility of the creation of an Economic Partnership Agreement aiming to increase trade and investment between the two countries by as much as Bt30 billion by 2016.

Korea and Thailand Plan Separate FTA

Korea and Thailand hope to conclude an extra free trade agreement on top of the deal Korea concluded with the ASEAN bloc in 2006.

Thailand Korea

Korea and Thailand hope to conclude an extra free trade agreement on top of the deal Korea concluded with the ASEAN bloc in 2006.

The FTA would mean that Korea will likely import more Thai agricultural produce and Thailand more Korean-made cars and electronics.

In an interview with the Chosun Ilbo on Sunday, Thai Commerce Minister Boonsong Teriyapirom said the two countries will start joint research this year about the benefits of a separate FTA. It will be possible for the two countries to cooperate more closely than Korea and the entire Southeast Asian trade bloc, he added.

He said Thailand has benefited less from the ASEAN-Korea FTA than its neighbors and wanted to sign a separate free trade pact from the beginning.

Boonsong was in Seoul to attend President Park Geun-hye’s inauguration on Monday.

The agreement is expected to cover the investment expansion by South Korean companies in Thailand in the automotive, metal, and energy industries, as well as in infrastructure projects in order to enhance Thailand to become the hub of regional connectivity and ASEAN.

Ms Yingluck also invited Ms Park to attend a high-level meeting on Asia-Pacific Water Resources, to be hosted by Thailand in May.

A South Korean firm, K-water, is one of the private companies selected in a preliminary framework for a sustainable water management system to solve Thailand’s chronic flood problems.

Foreign ownership of S. Korean stocks hits all-time high

Foreign ownership of South Korea’s listed stocks reached a record high level on the back of growing optimism for an economic recovery, the stock market operator said Tuesday.

Overseas investors held shares worth 420.4 trillion won (US$387.2 billion) in the country’s stock markets as of Wednesday, up 2.3 percent from 410 trillion won tallied in end-2012, the Korea Exchange (KRX) said.

Shares listed on the main bourse accounted for 97.6 percent of the combined foreign investment, while foreigners also held stocks worth 9.9 trillion won in the tech-heavy KOSDAQ market, according to the KRX.

It marks the first time that the foreign ownership of local shares has exceeded the 420 trillion won mark.

Market watchers said the increase is attributable to the country’s strong economic fundamentals and improved profitability of local companies.

“While a foreign sell-off weighed on the stock market last month, overseas investors have scooped up South Korean shares since the second half of 2012,” said Lim Soo-kyun, an analyst at Samsung Securities Co.

Foreign investors’ net selling of local shares came to 1.8 trillion won in January on the main bourse, apparently due to the volatile foreign exchange market, which dented the local firms’ business performance.

However, overseas investors turned net buyers of South Korean shares by scooping up a net 1.4 trillion won through Friday this month, as they had a brighter outlook on South Korea’s economy.

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Tourism

Thailand welcomes first Finnair flight from Stockholm to Phuket

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Bangkok, 25 October, 2021 – The Tourism Authority of Thailand (TAT) today welcomed the start of Finnair’s latest direct non-stop service from Stockholm to Phuket during the 2021-2022 winter season.

The welcoming ceremony was presided over by Mr. Piyapong Choowong, Phuket Vice Governor, and Mrs. Titiporn Manenate, TAT Executive Director for Europe, Africa, and the Middle East Region, as well as representatives from the tourism-related public and private sectors.

Mr. Piyapong Choowong, Phuket Vice Governor, said, “Finnair’s Stockholm-Phuket flight marks a milestone for the reopening of Phuket to international tourism, following the successful Phuket Sandbox programme, which was launched in July under well-planned health and safety precautions, and has now become a model for the reopening of other Thai destinations.”

Finnair will operate on the Stockholm-Phuket route from 24 October 2021-24 April 2022, starting with 2 flights per week. It will increase to 3 flights per week from 29 November 2021-17 April 2022.

Also, during this winter season, the airline will operate on the Stockholm-Bangkok route with 2 two flights per week from 22 October 2021 to 21 April 2022.

In addition, Finair will be operating from Helsinki, Finland, to Phuket and Bangkok, with 2-4 flights per week during November this year and March next year.

Mrs. Titiporn Manenate, TAT Executive Director for Europe, Africa and Middle East Region, said, “This latest Stockholm-Phuket flight also marks Finnair’s first non-stop service from Sweden to Thailand, allowing visitors from Sweden to escape winter and enjoy Thailand at its finest during the annual cool season. The flight also reiterates the airline’s confidence in Thailand as a destination.”

Sweden is Thailand’s largest source of visitors from the Nordic region. Also, Phuket is one of the most popular holiday destinations among the Swedish, whose spending per trip is averaged at 85,000 Baht per person and length of stay is 19 days.

Sweden and other Nordic countries – Denmark, Finland, Iceland, and Norway – are among the 46 approved countries and territories from where travellers may enter Thailand under the ‘Test & GO’ quarantine-free entry requirements from 1 November, 2021.

The post Thailand welcomes first Finnair flight from Stockholm to Phuket appeared first on TAT Newsroom.

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More COVID-19 restrictions are relaxed in Thailand from 16 October 2021

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Bangkok, 16 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that more COVID-19 restrictions in the dark-red zone provinces have been relaxed while additional businesses and activities have been allowed to resume operations from today (16 October, 2021).

  • Restaurants and eateries, cinemas, theatres, shopping malls, sport stadiums, and public parks are now allowed to resume normal opening hours, but must close no later than 22.00 Hrs.
  • Convenience stores, fresh markets, and flea markets are now allowed to open for all types of goods with the opening hours extended for one hour longer or until 22.00 Hrs. All 24-hour shops must close nightly from 22.00-03.00 Hrs.
  • Day-care centres for elderly people are now allowed to resume operations.
  • Hotels, exhibition halls, convention halls, trade fair centres, or similar types of venues are now allowed to open for meetings, seminars, or other types of events and ceremonies up until 22.00 Hrs.
  • Shopping malls, shopping centres, community malls, or similar establishments can also open for meetings, seminars, or other types of events and ceremonies up until 22.00 Hrs., but must not hold any sales promotional activities and continue to close the amusement parks, water parks, and gaming centres.
  • Public parks, sports stadiums, gyms, fitness centres, and all types of venues for exercise can resume normal opening hours, but no later than 22.00 Hrs.

Meanwhile, gaming centres in shopping malls, shopping centres, community malls, or similar establishments that are not located in the dark-red zone province can now resume operations.

Curfew, Interprovincial Travel & Gatherings of people

To be in effect until 31 October, 2021, the night-time curfew in the dark-red zone provinces has been reduced from 6 to 4 hours, or between 23.00-03.00 Hrs.

Public and private organisations as well as people are still prohibited to organise any activities prone to the spread of disease, but the number of attendees has been increased for each zone. Dark-red zone: No gatherings of more than 50 people (from previously 25 people). Red zone: No gatherings of more than 100 people (from previously 50 people). Orange zone: No gatherings of more than 200 people (from previously 100 people).

Travel between dark-red zone provinces and other areas can resume normal operations but must apply social distancing measures.

Entertainment venues

All types of entertainment venues, including pubs, bars, and karaoke shops are to remain closed. However, the government mentioned that these businesses may undertake preparation to be ready for reopening.

Self-protective measures and distancing efforts

As usual, people nationwide are asked to continue abiding by the health and safety measures in place; such as, wearing a face mask at all times while outside of their residence, regularly washing hands with soap and water/cleaning alcohol, and avoiding unnecessary close contact with others.

TAT would like to remind all travellers to continue with D-M-H-T-T-A precautions to prevent the spread of COVID-19: D – Distancing, M – Mask wearing, H – Handwashing, T – Temperature check, T – Testing for COVID-19, and A – alert application.

Thailand’s colour-coding system for COVID-19 control are in place for the following provinces:

23 (down from 29) Maximum and Strict Controlled Areas or dark-red zone provinces

Central Region: Bangkok and 22 other provinces: Ayutthaya, Kanchanaburi, Nakhon Nayok, Nakhon Pathom, Nonthaburi, Pathum Thani, Ratchaburi, Samut Prakan, Samut Sakhon, Samut Songkhram, and Saraburi; Eastern Region: Chachoengsao, Chanthaburi, Chon Buri, Prachin Buri, and Rayong; Northern Region: Tak, and Southern Region: Nakhon Si Thammarat, Narathiwat, Pattani, Songkhla, and Yala.

Chanthaburi and Nakhon Si Thammarat have been moved up from red to the dark-red zone.

30 (down from 37) Strict Controlled Areas or red zone provinces

Central Region: Ang Thong, Chai Nat, Lop Buri, Phetchaburi, Prachuap Khiri Khan, Sing Buri, and Suphan Buri; Eastern Region: Sa Kaeo and Trat; Northern Region: Chiang Mai, Chiang Rai, Nakhon Sawan, Phichit, Phitsanulok, and Phetchabun; Northeastern Region: Chaiyaphum, Kalasin, Khon Kaen, Maha Sarakham, Nakhon Ratchasima, Si Sa Ket, Surin, Ubon Ratchathani, and Udon Thani, and Southern Region: Chumphon, Phatthalung, Ranong, Satun, Surat Thani, and Trang.

Ang Thong, Lop Buri, Nakhon Ratchasima, Phetchaburi, Prachuap Khiri Khan, Sing Buri, and Suphan Buri have been moved down from the dark-red to red zone, while Surat Thani has been moved up from the orange zone.

24 (up from 11) Controlled Areas or orange zone provinces

Northern Region: Kamphaeng Phet, Lampang, Lamphun, Mae Hong Son, Nan, Phayao, and Phrae, Sukhothai, Uthai Thani, and Uttaradit; Northeastern Region: Amnat Charoen, Bueng Kan, Buri Ram, Loei, Mukdahan, Nakhon Phanom, Nong Bua Lam Phu, Nong Khai, Roi Et, Sakon Nakhon, and Yasothon, and Southern Region: Krabi, Phang-Nga, and Phuket.

Amnat Charoen, Buri Ram, Kamphaeng Phet, Lampang, Lamphun, Loei, Nong Bua Lam Phu, Nong Khai, Roi Et, Sakon Nakhon, Sukhothai, Uthai Thani, Uttaradit, and Yasothon have been moved down from red to orange zone.

The post More COVID-19 restrictions are relaxed in Thailand from 16 October 2021 appeared first on TAT Newsroom.

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