The Republic of Korea has expressed readiness to increase its investment in Nigeria with focus on agriculture, energy, natural resources, cyberspace, biotechnology, oil refinery, among others.
Mr Jang Sungmin, Special Envoy of the President of Korea, disclosed this while briefing newsmen in Abuja Tuesday after meeting with Vice President Kashim Shettima and other top government officials in Abuja.
Daily Trust reports that this is the second time South Korean president, Yoon Suk Yeol, would send a special envoy to Nigeria since the coming of President Bola Tinubu’s administration. The first special envoy attended the inauguration of Tinubu on May 29.
Korea is one of Nigeria’s strategic business partners, with bilateral; trade volume exceeding $2 billion.
Sungmin said the visit was to explore areas of expanding Korean economic cooperation with Nigeria especially as President Tinubu promised to further open up the country to foreign investments.
He said, “President Yoon, last year, announced a policy to expand cooperation with Africa.
“Nigeria has the biggest market in Africa. It has the biggest population. As you know, Korea is a country that has all the technological and economic knowhow to lead the fourth industrial revolution. We are seeking to expand our cooperation, which will enhance Nigeria’s economic development.
“Nigeria’s new administration has opened up the country for business; Korea wants to explore the numerous opportunities here. We want to cooperate in a more tailored way.
“Korea has the technological knowhow, the skills, the capacity, human resources especially in the area of agriculture, cyberspace, security, biotechnology, oil refinery and others. Korea looks forward to a bright future with Nigeria. We are looking forward to investing more in Nigeria.”
The special envoy pledged that more delegations from Korea will visit Nigeria to explore areas of cooperation and investment.