The ambassador of the republic of Korea to Nigeria, Mr. KIM Young-Chae, says the 2024 Korea-Africa summit will lead to deeper mutual understanding, increase in more investments and humanitarian assistance to Africa.
Young-Chae made this known in his address of welcome at the republic of Korea national day reception, 2023, on Thursday night in Abuja.
He explained that currently, humanity is facing daunting challenges, like climate change, disruption of global supply chain, geopolitical conflicts, and the emerging 4th industrial revolution.
He added that all these international challenges could not be effectively resolved without the active participation of Africa.
According to him, the Korean government is enhancing its overall relations with Africa, adding that many Korean companies look at Africa as the next manufacturing base as well as a single market.
“Under this backdrop, the Korean government has decided to host a Korea-Africa Summit next year (2024) for the first time in its history.
“This will lead to more high-level exchange of visits, more trade and investment opportunities, and the deepening of a mutual understanding.
“Together with the summit meeting, the Korean government will expand its presence in Africa.
“It will increase its ODA budget substantially in the areas of agriculture, education, health, climate adaptation and humanitarian assistance.
“As a model of economic development for many developing countries, Korea will showcase several platforms at the summit in order to share its experiences of building the manufacturing base and transforming agriculture,” he said.
The envoy stressed that with same spirit, the Korean government is determined to implement its long-term vision to go together with Africa for peace and prosperity by hosting 2030 Busan Expo.
He recalled that Nigeria conducted elections early this year, adding that the political process is finally over.
“Democracy needs patience and compromise. Now we have a high expectation that Nigeria will concentrate on economic development.
“Korea is among the first countries that President Bola Tinubu had summit meetings with our President. They had a very fruitful meeting in India on the sidelines of the G20 Summit.
“We hope that there will be another bilateral summit meeting in Seoul next year when Korea hosts the Korea-Africa summit. It will produce fruitful results.
“I want to also thank all members of team Korea in Nigeria, which include KOICA, Korean cultural center, KOTRA, and consulate office in Lagos,” he said.
He added that the high points of the event were scintillating music performance by Nike cultural troupe, The royals, Dosi and M.B. Crew.
