Expanding Economic Collaboration Has Been Top Priority Of Nigeria/Korea Relationship, Says Envoy

Kim Pankyu, the Korean Ambassador to Nigeria, has stated that expanding economic partnerships with Nigeria has always been a top priority for his country since the establishment of the Nigerian-Korean diplomatic relationship over 44 years ago.

Speaking at a press conference in Abuja on Monday, the envoy, who has only been in Nigeria for 50 days, stated: “First and foremost, I would like to do my best to expand economic exchanges between Korea and Nigeria. Promoting economic partnership has always been our top priority since our two countries established diplomatic relations 44 years ago.

“Nigeria is already one of Korea’s top five African trading partners. I believe we can accomplish more. Since the current Nigerian government is actively implementing economic reform to improve the business environment in Nigeria, I will introduce this change to Korean companies and encourage them to venture into Nigeria and invest.”

He went on to say, “Secondly, I will look into ways to strengthen security cooperation, drawing on my experience in military and security affairs. In particular, I would like to focus on promoting maritime security cooperation because ensuring maritime security in the Gulf of Guinea is critical not only for coastal countries like Nigeria, but also for countries that pass through the region, such as Korea. In addition, I intend to broaden Korea’s assistance in the capacity building of Nigerian military and security officers.”

He promised to facilitate people-to-people exchange between the two countries. “I believe culture has the ability to unite people and improve their understanding of one another. The Korean Culture Centre in Abuja has played a significant role in introducing Korean culture to Nigeria thus far. I will do my best to give Nigerians more opportunities to experience different Korean cultural content. I will also look into ways to help more Nigerian students study in Korea,” he said.

The envoy stated, “I believe that the first Korea-Africa Summit, which will be held in Seoul in June, will be a watershed moment in the relations between Korea and Africa, as well as Korea and Nigeria. The inaugural Korea-Africa Summit is expected to be the most significant international gathering under the current administration. This reflects President Yoon Suk-yeol’s commitment to developing a mutually beneficial, sustainable, and strategic long-term partnership with Africa, which is consistent with Korea’s vision of becoming a Global Pivotal State. This is a significant step forward in Korea’s comprehensive strategy to deepen engagement with the Global South, demonstrating our commitment to global inclusiveness and cooperation.”

He revealed that Korea will host numerous side events on this occasion, including the Korea-Africa Business Summit and several fora on ICT, health, tourism, and energy.

He stated: “These events will assist us in developing practical and concrete measures to increase cooperation. During the Summit, Nigeria and Korea will have numerous opportunities to discuss how to expand their bilateral economic and cultural exchanges, both between governments and the private sector. In a nutshell, I believe the upcoming Korea-Africa Summit will mark a new turning point in Korea-Africa relations.”