The South Korean ambassador to Nigeria, His Excellency Kim Pankyu, has reaffirmed Nigeria’s position as South Korea’s leading investment partner in Africa.
The envoy made this statement during the 45th anniversary of diplomatic relations between the two nations, highlighting the growing economic ties and mutual cooperation.
Ambassador Kim expressed satisfaction with the surge in trade between both countries, noting that bilateral trade increased by 38.6% in 2024, reaching $2.2 billion.
He emphasized ongoing discussions with Nigeria’s Ministry of Foreign Affairs, Ministry of Trade and Investment, and Ministry of Agriculture to further strengthen bilateral relations.
“We are committed in strengthening our ties, particularly in economic cooperation, security, and people-to-people exchange,” he said.
The ambassador also revealed promising developments in health and biotechnology. A South Korean biotech company has approved the packaging of 15 million HIV testing kits in Nigeria through Colexa Biosensor Limited and Codix Pharma Group.
He noted that both countries are working diligently to finalize key agreements, stressing the vast opportunities for increased trade and investment.
The event also marked one year since Ambassador Kim assumed his diplomatic post in Nigeria, fostering optimism for even deeper cooperation between the two nations.
Despite the progress, the diplomat acknowledged challenges, particularly in maritime security within the Gulf of Guinea, which affects the movement of vessels between Nigeria and South Korea.
“Forty years in military and security affairs, I am committed to enhancing our security, particularly maritime security. We’re in support for Korean capacity building in Nigeria’s military and security sectors,” he said.
The ambassador emphasized South Korea’s support for cultural and development initiatives through the Korea Culture Centre, adding that large-scale projects are expected in the coming years.
He expressed confidence in South Korean industries’ continued expansion in Nigeria, providing employment opportunities for Nigerian talent.
Mr. Kim cited Daewoo Engineering and Construction as an example, noting that less than 20% of its general workforce in Nigeria are South Korean, underscoring the company’s commitment to local talent development.
The ambassador concluded with optimism, stating that the bilateral relationship between Nigeria and South Korea will continue to flourish as both nations cement plans for deeper collaboration across multiple sectors.
