Business
Korean firm in talks to manufacture mobile phones in Sri Lanka
Micro Electric International, local partner for joint venture
Renowned Korean mobile phone company, Lodule International Ltd., is in talks with the Lankan authorities to launch an international joint venture with a Sri Lankan counterpart to manufacture mobile phones in Sri Lanka, a press release from the Sri Lankan embassy in the Republic of Korea said.
The release adds-
‘The CEO of Lodule International Ltd. in the Republic of Korea, Byungchul Kim and Senior Director Donghan Shin called on the ambassador of Sri Lanka, Dr. A. Saj U. Mendis, at the embassy to further discuss the aforementioned international joint venture (IJV) and to find the most efficacious navigation of the proposed IJV in Sri Lanka. The international joint venture (IJV) partner in Sri Lanka is the reputed corporate Micro Electric International (Pvt) Ltd. headed and founded by Dhammika Samarawickrama.
‘The CEO of Lodule International Ltd., Byungchul Kim, and the Senior Director of the Company explained and expounded, in detail, to Dr. Mendis and senior officials of the Commercial Division of the embassy of their company and the functionaries of the company since its formation in 2004. Chairman Kim stated that most of the products and goods manufactured in Lodule International are being exported to other countries mostly to the ASEAN and China. He added that Lodule has a large facility in China, and along with the facilities in the RoK, they produce contactless thermometers, Android cloud tablets, iPhones & Smartphones mostly for the export market. During the meeting, ambassador Dr. Mendis and Commercial Division of the embassy had a zoom/virtual conference call with Dhammika Samarawickrama, Chairman of Micro Electric International in Sri Lanka, to discuss the stratagem to expedite the IJV in Sri Lanka. The two IJV partners from the RoK and Sri Lanka were, first, introduced to each other by the Most Venerable Katuwana Vijithawansha Thero of Sri Lankaramaya Temple in the city of Daegu in the RoK.
‘This would be the first ever occasion that state-of-the-art smartphones are manufactured, solely, in Sri Lanka. Micro Electric International, the Sri Lankan partner of the IJV, has been in operation for nearly three decades and chairman Samarawickrama has been engaged in a large number of charitable and philanthropic activities, mostly with regard to extending of employment opportunities to prisoners in prisons in Sri Lanka, apart from commercial and economic endeavors. The negotiations and discussions have been conducted on virtual/zoom due to the COVID-19 pandemic. During the zoom/virtual conference call at the embassy, with the intervention and intercession of the ambassador Dr. Mendis, chairman Byungchul Kim and chairman of Micro Electric International, Samarawickrama, discussed that the Non-Disclosure Agreement (NDA) had to be agreed upon by both the sides and would follow up with an MoU, thus paving the way for the operation of the proposed IJV to manufacture smart/mobile phones in Sri Lanka.’
The Business World International Conference and Awards Ceremony organised by Business World International Organisation INC-USA, the event which is recognized as one of the most prestigious Business Award Festivals in the Asia Pacific Region, was held at the Mount Lavinia Hotel, Colombo with the participation of several business personalities and celebrities of Sri Lanka. The Joint Chief Guests were Dr. Purna Bahadur Nepali (Ambassador of Nepal to Sri Lanka) and Prof. Dr. Dietmar Doering (Founder / Chairman – AGSEP Research and Advisory Board Member of Business World International Organization – USA). Guests of Honour were Tham Whye Long (First Secretary/Head of Chancery – High Commission of Malaysia in Sri Lanka), Prof. Dr. Rohan De Silva (President – Sri Lanka Chamber of Small and Medium Industries), (Retd) Major General R. A. J. N. Ranasingha (RSP USP NDC MSC – Sri Lanka Army), Dr. Rohan Pallewatta (Excutive Chairman of the Start-Up High Tech Company – Lanka Harness, a BOI approved company operating in the Free Trade Zone at Biyagama in Sri Lanka), Dr. Kishu Gomes (Chairman – Exterminators PLC, Group Managing Director / CEO – Dreamron Group of Companies & Advisory Committee Member – Sri Lanka Tourism), Dian Gomes (Nonorary Consul of Georgia in Sri Lanka, Chairman – Colombo School of Business Management & Independent Non-Executive Director – Nestle Lanka Ltd).
Special Guests were Rt. Rev. Bishop Prof. Dr. Nissanka Weerappulige (Advisory Board Member of Business World International Organization – USA), Prof. Dr. Dame Anoma Weeraratne Wijenayake (Advisory Board Member of Business World International Organization – USA), Gerd Heinzerling (Advisory Board Member of Business World International Organization – USA), Priyantha Padmasiri (President – Sri Lanka Canada Business Council), M. H. K. M. Hameez (Vice President – Sri Lanka Canada Business Council & Immediate Past President – Sri Lanka Malaysia Business Council). The invitees were graciously welcomed by Dr. Anthony Dexter Fernando (Chairman – Business World International Organisation USA – International Chapter), Dr. Tharindu Wijenayake (Deputy Chairman – Business World International Organisation USA – International Chapter) and Dr. Emerita Wijenayake (Project Chairperson & Director – Business World International Organisation USA – International Chapter).
Sampath Bank recently formalised a strategic partnership with the Chamber of Young Lankan Entrepreneurs (COYLE) by signing a Memorandum of Understanding (MOU) at its Head Office. This partnership highlights Sampath Bank’s ongoing commitment to promoting innovation, driving business growth, and empowering Sri Lanka’s entrepreneurial ecosystem.
Through this collaboration, Sampath Bank will serve as the official banking partner for the COYLE Awards and the Young Lankan Program, two flagship initiatives that recognise business excellence and nurture emerging leaders. Supporting these initiatives allows the Bank to create a strong pipeline for SME engagement, provide access to tailored financial solutions, and build meaningful relationships with the country’s leading entrepreneurs.
ANC, a leading Lankan higher education provider, partnered with Northwood University to host the 2025 NUCARS simulation in Sri Lanka for the first time. Held from April 7–11, the event brought together students from the U.S., Europe, and Sri Lanka for an immersive, hands-on learning experience in automotive retail strategy. Twenty-two ANC students participated, showcasing their ability to compete globally. Celebrating its 28th anniversary, NUCARS emphasized teamwork, cross-cultural collaboration, and real-world business decision-making—highlighting ANC’s commitment to delivering globally recognized education and empowering students with essential skills for the international marketplace, said a release.
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