Korea aiming to expand economic relations with Nigeria – Ambassador

Kim Pankyu, the new Korean Ambassador to Nigeria, has said his topmost priority is to expand economic relations between his country and Nigeria.

He disclosed this during a press conference at the Korean embassy in Abuja on Monday.

While noting that Nigeria was among his country’s top 5 trade partners, he expressed a desire to expand economic exchanges between the countries even further.

“First and foremost, I would like to do my best to further expand economic exchanges between Korea and Nigeria.

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“Promoting economic partnership has always been the focus since the establishment of the diplomatic relations between our two countries 44 years ago.

“Nigeria is already Korea’s top 5 trade partners in Africa. I believe we can do more. Since the current Nigerian government is actively carrying out economic reform to improve business environment in Nigeria, I will introduce this change to Korean companies and encourage them to venture into Nigeria and make investments,” he said.
The Korean envoy also expressed the intention of his country to deepen security cooperation with Nigeria.

“I will explore ways to deepen security cooperation drawing on my expertise in military and security affairs. In particular, I would like to focus on promoting cooperation on maritime security because securing maritime security in the Gulf of Guinea is essential not only for coastal countries including Nigeria but also for countries passing through this region including Korea.

“In addition, I intend to expand Korea’s support for capacity building of the Nigerian military and security officers.”

The ambassador who said he would also target more cultural exchanges between the two countries, noted that the first Korea-Africa Summit to be held in June in Seoul would provide a solid platform to improve the relationship between Korea and Nigeria.

The inaugural Korea-Africa Summit is expected to be the largest international gathering under the current administration.

This reflects President Yoon Suk-yeol’s commitment to fostering a mutually beneficial, sustainable, and strategic long-term partnership with Africa, he said.