By Stanley Onyekwere
President of Korea-Africa Foundation (KAF), Lyeo Moon-ki has declared readiness to bolster business and economic relationship with Nigeria, through robust strategic engagements with key stakeholders in the sector.
Moon-ki, who revealed that Nigeria is the Republic of Korea’s largest trading partner in Africa, said “ Nigeria will be an economy engine in the future.
The KAF President, who spoke during a recent media chat with journalists, in Abuja, on his first official visit to Africa, explained that KAF, as an initiative of the Korean parliament was established in 2018, basically to promote our relationship in the Africa continent, and African countries.
According to him, “we are trying to encourage more participation in business areas between Korea and Africa, as we are very much working closely with all the Korean economic associations and entities on issues related to Africa.
“With the visit, we try to bring some business networks to your people (Nigerians) through engagement with NACCIMA and other key stakeholders , so this will be very good start, and I hope that our business and economic relationship with Nigeria will be increased much more that what it is”.
He adds, “but, the Korean public perception about Nigeria is not positive, so the Korean business people are very much hesitant to come to Nigeria, and open some business in the country.
“Most of the people think of Nigeria as a very difficult and odd place to live, yet they haven’t visited Nigeria or met Nigerian people, but this impression can change, once they visit Nigeria and meet real Nigerians.
“So, this visit is very significant, because during my discussions and meeting with the Nigerian people, I realise that Nigeria is a big country with a lot of possibilities and potentials for us to cooperate with each other.
“That’s what we are trying to let them know right away positive things about Nigeria, I think there will be better perception in future”.
On his part, the Korean Ambassador to Nigeria, Kim Young-chae, said the impacts of KAF in Nigeria, may not be in the immediate, but in the long term, it will help to establish and further promote good relationship between people of both countries.
Kim Young-chae, who disclosed that the trade volume between Nigeria and Korea was two billion US dollars in 2021, also revealed that in the first half this year, it was 1.1 billion dollars, representing about 20% increase.
He explains that, “the 1.1 billion trade volume recorded during the last six months of this year, is about 20% increase when compared with that of last year, is a good development as it is more like a balanced trade volume.
“So, in spite of the Covid-19, our trade volume is increasing from last year, maybe thanks to our activities in the embassy, and with the Foundation, our future relationship definitely improve”.
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