…To host Korea-Africa summit next year
From Aidoghie Paulinus, Abuja
The Ambassador of the Republic of Korea to Nigeria, Kim Young-Chae, has said that the Republic of Korea is enhancing its overall relations with Nigeria and the African continent in general.
The envoy stated this during the Republic of Korea National Day in Abuja.
Young-Chae noted that currently, humanity is facing daunting challenges like climate change, disruption of global supply chain, geopolitical conflicts, and the emerging 4th industrial revolution.
He added that all the international challenges cannot be effectively resolved without the active participation of Africa.
Young-Chae said: “Accordingly, the Korean government is enhancing its overall relations with the continent and many Korean companies look at Africa as the next manufacturing base, as well as a single market.”
The Republic of Korea envoy further said that under the backdrop, the Korean government has decided to host a Korea-Africa summit next year for the first time in its history.
“This will lead to more high level exchange of visits, more trade and investment opportunities, and the deepening of a mutual understanding.
“Together with the summit meeting, the Korean government will expand its presence in Africa. It will increase its ODA budget substantially in the areas of agriculture, education, health, climate adaptation, and humanitarian assistance,” Young-Chae also said.
Young-Chae added that as a model of economic development for many developing countries, Korea will showcase several platforms at the summit in order to share its experiences of building the manufacturing base and transforming agriculture.
“With the same spirit, the Korean government is determined to implement its long-term vision to go together with Africa for peace and prosperity by hosting 2030 Busan Expo,” the Republic of Korea envoy further said.
On the political scene, Young-Chae recalled Nigeria’s 2023 general election, saying that democracy needed patience and compromise.
“Nigeria conducted elections early this year, and the political process is finally over. Democracy needs patience and compromise. Now we have a high expectation that Nigeria will concentrate on economic development. Korea is among the first countries that President Tinubu had summit meetings with.
“President Yoon and President Tinubu had a very fruitful meeting in India on the sidelines of the G20 Summit. We hope that there will be another bilateral summit meeting in Seoul next year when Korea hosts the Korea-Africa summit. It will produce fruitful results,” the envoy assured.