The Republic of Korea has pledged to strengthen its financial, instructional and cultural relations with Nigeria, with a renewed give attention to know-how switch, youth improvement, native manufacturing and funding.
The Korean Ambassador to Nigeria, His Excellency Jeong Yo-an, disclosed this throughout a press briefing at his residence, the place he outlined plans to increase cooperation between the 2 international locations.
He famous that bilateral commerce reached roughly $1.1 billion final yr however remained largely concentrated in Nigeria’s oil and gasoline exports and Korean automobiles, electronics and equipment. He recognized manufacturing, agriculture, digital know-how and maritime providers as areas with vital potential for progress.
The Ambassador listed native meeting, agricultural equipment and digital abilities improvement among the many alternatives for Korean funding, citing the presence of corporations akin to Daewoo E&C, Samsung, LG and Hyundai in Nigeria.
He additionally described the sweetness and cosmetics trade as an rising space of cooperation, noting that rising Nigerian curiosity in Korean skincare merchandise might create alternatives for funding and job creation. Nigerian patrons are anticipated to have interaction Korean companies on the Korean pavilion throughout Beauty West Africa on November 13.
On the funding local weather, Yo-an referred to as for predictable insurance policies on international change, customs and taxation. He additionally urged progress on the double taxation settlement signed by each international locations in 2006, which is but to be ratified.
In know-how and training, he highlighted the Korea International Cooperation Agency (KOICA)’s Smart Education Project, the Nigeria-Korea Information Access Centre established in Abuja in 2025 and the Global Korea Scholarship programme, which supplies alternatives for Nigerian college students to check in South Korea.
Approximately 10 Nigerians are chosen yearly for the scholarship, whereas KOICA additionally supplies coaching and fellowship alternatives for Nigerian officers in data know-how, public administration and well being.
The Ambassador additional highlighted the $12 million Abuja Centre for Entrepreneurship, developed in partnership with KOICA, SMEDAN and the United Nations Development Programme (UNDP). The initiative is designed to help entrepreneurship by native possession, abilities switch, mentorship and entry to financing and private-sector networks.
On cultural relations, he disclosed that the Korean Cultural Centre Nigeria had engaged greater than 300,000 individuals by its actions. The 2026 Korean Film Festival attracted about 1,000 members, whereas Okay-pop, Korean dramas, meals and cosmetics proceed to achieve recognition amongst Nigerians.
Plans are additionally underway to increase cultural actions past Abuja, encourage joint movie and music productions, and create change alternatives for younger creatives.
Yo-an pledged to facilitate worldwide media alternatives for Nigerian journalists, together with participation within the World Journalists Conference and familiarisation visits to South Korea.
Beyond these initiatives, South Korea is supporting Nigeria by improvement programmes in agriculture, digital governance, training and youth employment, together with inexperienced jobs initiatives carried out with the Food and Agriculture Organisation.
The Ambassador mentioned South Korea’s improvement expertise demonstrated the significance of training, onerous work and worldwide partnerships, whereas stressing that Nigeria should pursue options suited to its personal circumstances.
He added that each international locations have been making ready for the seventh session of their Joint Commission, which Nigeria has supplied to host in Abuja, reaffirming Korea’s dedication to an equal partnership that respects Nigeria’s improvement priorities.
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