Business
THE Ambassador of the Republic of Korea to Nigeria, Kim Young-chae, has put the trade volume between Nigeria and the Republic of Korea at $2billion last year after the COVID-19 pandemic.
Speaking at a media briefing during the visit of the President of Korea-Africa Foundation (KAF) Lyeo Woon-Ki to Nigeria, the Korean envoy disclosed that at the end of the second quarter of 2022, the volume of trade increased by 20 per cent or $1.6 billion.
The envoy also disclosed that plans are underway to advance the bilateral ties with Nigeria to involve the supply of military hardware as well as more investments in the education sector.
KAF President, Woon-Ki said the visit was essentially to explore more areas of collaborations between Korea and Nigeria in a bid to positively promote the country and Africa when he returns.
Woon-Ki said among the places he visited while in Nigeria were Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Ministry of Trade and Investment and Nigeria Defence.
Woon-Ki particularly observed that Nigeria was highly hospitable and friendly to live in, contrary to views by some people in his country and parts of the world
He said: “This is my first visit to Nigeria since I was appointed last year. My Foundation was established in June 2019. Its function is specifically to promote our relationship with Africa… Korea passed a law to establish it in 2018. We don’t have the Foundation for other regions except Africa.
“We need to promote more things about Africa in our events. We have an event on May 28 when we promote Africa day… There are other events such as film festivals, talk shows, and cultural displays, where we invite our colleagues from Africa.
“Not only for cultural and exhibition, we have economic and business exhibitions every two years, and the Korea-Africa forum every four years. We host dialogue on Africa where we discuss all issues related to Africa.”
-The Nation
KN
Tags: Kim Young-chae Lyeo Woon-Ki NACCIMA
