South Korea has reiterated its commitment to strengthening ties with Nigeria, particularly in economic cooperation, security, and people-to-people exchanges.

Kim Pankyu, the Korean ambassador to Nigeria, said this at a news conference on Thursday to mark the 45th anniversary of diplomatic relations between Korea and Nigeria in Abuja.

Mr Pankyu said that since he assumed office as Korea’s ambassador to Nigeria, the relationship between Korea and Nigeria has grown significantly.

He said both countries had kept a stronger synergy in strengthening their shared cultural affinity.

According to him, Korean embassy business operations in Nigeria have an essentially favourable investment environment.

”During some meetings, many Nigerian government officers also recognised the importance of investment-friendly policies. Measures such as tariff and tax incentives will attract more investment from Korean companies, benefiting both economies,” he said.

The ambassador said that one of the most notable milestones was the first-ever Korea-Africa Summit in June, where they facilitated high-level discussions between Korea and Nigeria.

He said such high-level discussions resulted in meetings with the foreign affairs, trade and tourism ministers.

The ambassador said that in 2021, Korean bilateral trade increased by 38.6 per cent, reaching over £2.2 billion an hour in Baku, South Korea and Antarctica.

He said that such was a meaningful addition to their partnership, which made their partnership truly important as $2.2 billion reflected their strong economic partnership.

He restated Korea’s commitment to increasing support for capacity building in the Nigerian military and security sectors.

“Beyond the economy and security partnership, the Korean Embassy actively supports cultural and development initiatives through the Korea International Cooperation Agency (KOICA) and the Korean Cultural Centre,” he added.

He explained that some weeks ago, the Korean-Nigerian Information Access Centre was opened in Abuja, supporting Nigeria’s digital capacity-building efforts.

“KOICA and Nigeria are also conducting a project to promote digital governance and multimedia learning in primary schools worth $13 million and $10 million.

“Large-scale projects are to come in the next few years; the contributions and collaborations demonstrate the mutual trust and friendship between Korea and Nigeria. As ambassador, I will continue working to facilitate our longstanding partnership for the years ahead,” he said.

(NAN)