South Korean Ambassador to Bangladesh Lee Jang-keun has said Hyundai cars will be assembled in Bangladesh by the end of this year.

At the Kaliakoir Hi-Tech Park, he said, local company Fair Technology is now preparing an assembly plant for Hyundai Motors.

In cooperation with a Bangladeshi company, Samsung Electronics is assembling and manufacturing most of its gadgets locally – from refrigerator, air conditioner, washing machine to television and mobile phones, Ambassador Lee said while speaking at a reception on Sunday evening, marking South Korea’s National Foundation Day.

Read:Make 50th anniversary of Seoul-Dhaka ties a success: Korean ambassador

The South Korean envoy said the golden jubilee of Bangladesh-South Korea relations next year will be a milestone in “friendship and partnership” between the two countries.

“Cherishing the close ties we have earnestly cultivated for the past five decades, we will renew our commitment to each other and take a bold step forward together for a closer, deeper, stronger and brighter future,” he said.

South Korea is currently the fifth largest FDI investor in Bangladesh, and more than 70 percent of its investment is in the RMG sector, said the ambassador.

Read: South Korean envoy Lee for strengthening infrastructure cooperation with Bangladesh

With the establishment of the Hyundai Car manufacturing plant in Bangladesh, the friendship between Bangladesh and South Korea will reach a new height.