Korea Pledges Stronger Bilateral Trade Ties With Nigeria

Korea ambassador to Nigeria, Mr Kim Pankyu has affirmed  commitment to further strengthen bilateral trade relations between Nigeria and Korea.

Pankyu who spoke in an interview with Newsmen in Abuja on Friday, said the goal is to expand value and deepen economic cooperation between both countries.

According to him, the both countries  had experienced an  impressive increase of 38.6 percent in trade value in 2024 compared to the previous years.

He said  that such has reflected  the increasing economic interconnection between the both countries.

” In line with this positive trend, the embassy has been actively supporting Nigeria’s engagement with their Korean counterparties.

“Since my inauguration as ambassador in March  2024, during the Korean-Africa Summit last June, we supported the Nigerian delegations in engaging with various trade promotion agencies.

” With the support of our trade agency,  Korea International  Cooperation Agency (KOICA),  we  will keep encouraging the participation of Korean companies in trade events in Nigeria

” We will also give  invitation to Nigerians and Nigerian buyers to events in Korea,” he said.

The ambassador further said that  Korea  planned to expand investment by building production facilities in Nigeria for such  would help  to create jobs.

“Our goal is to establish a positive, productive cycle where these jobs contribute to the country’s economic growth”.

He further explained that Korean companies were leaders in creating quality jobs in Nigeria.

According to him, Daewoo E&C has played a key role in job creation,  by employing 5,000 to 6,000 local workers, which is nearly 20 times the number of its Korean employees.

“Samsung Heavy Industries also made a significant impact during the EZINA project, employing 3,000 local workers and training 600 international welders.

“Sorpia Nigeria, a Korean SME manufacturer of Africa’s most popular high-quality bread hair extensions, supports the local employment of over 6,000 people.

“Their strong commitment to local employment policy is helping to build a skilled Nigerian workforce for the future,” he added.

Pankyu said that the embassy has  supported Nigeria’s digital capacity-building efforts, including e-government initiatives and multimedia education.

“At the inauguration ceremony of the Korean-Nigeria Information Access Center in Abuja in Feb., the embassy held an event to celebrate the 100th anniversary of the Korean-Nigerian information access center in Abuja.

” We highlighted that the center will further contribute to job creation in the digital sector,” he said.

He also expressed his gratitude for the Korean government’s support in establishing the center.

The ambassador added that they would continue to support a mutually beneficial environment for the two countries economics by ensuring continued growth and cooperation.

NAN