Trade between Nigeria, Korea may exceed $2b as investment interest grows | The Guardian Nigeria News - Nigeria and World News

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There are 20 Korean companies operating in Nigeria with trade volume between both countries expected to hit $2 billion this year, representing about 20 per cent growth, the Ambassador of the Republic of Korea to Nigeria, Kim Young-chae has said.

The Ambassador, who stated this in Abuja at the Korea national day, said the occasion was aimed at further strengthening the bilateral relations between Nigeria and the Republic of Korea.

“About 20 Korean companies are currently active in Nigeria. It is noteworthy among them that Daewoo ENC is a major partner of the Nigerian oil and gas sector, and Samsung Heavy Industry invested more than $300 million to build an ultra-modern shipyard in Lagos port,” he stated. He added: “The Korean Cultural Centre is reaching out to more Nigerians by signing MoUs with universities and TV stations. I recognise, with great satisfaction, the rising popularity of Korean music, movie and drama among Nigerians, particularly among the young generation. Our development agency KOICA is expanding its activities in training, education, e-government and humanitarian assistance.”

 

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