President Tinubu Engages South Korean Envoy To Boost Trade And Investment

Abuja, Nigeria – In a significant move towards fostering robust trade and investment relations, President Bola Tinubu held a crucial meeting with Mr. Won Hee-Ryong, the esteemed Special Envoy of the South Korean President.

The rendezvous, which took place at the State House, focused on avenues for an accelerated expansion of trade and investment partnerships spanning pivotal sectors of Nigeria’s economy.

This strategic deliberation was a sequel to the fruitful exchanges between President Tinubu and South Korean President Yoon Suk Yeol during the G-20 Leaders’ Summit in New Delhi, India.

President Tinubu lauded the commendable strides made in actualizing the commitments established in his discussions with President Yoon in India.

He underscored the significance of these commitments in fortifying the economic and technological collaboration between the two nations.

“I am heartened by your President’s recognition of these overtures and his emphasis on Nigeria’s pivotal role within the African context, signified by dispatching you as a Special Envoy. Be assured, we are resolutely dedicated to providing the essential backing to amplify the longstanding bilateral tiesI am encouraged that your President acknowledged these requests and emphasized the importance of Nigeria in the African context by sending you as a Special Envoy. Rest assured, we are committed to providing the necessary support to bolster the bilateral relationship that has flourished over the years,” asserted the President.

With a keen focus on augmenting South Korea’s involvement in the overhaul of Nigeria’s comprehensive, multi-modal transportation system, President Tinubu underscored the imperative for heightened South Korean investment in establishing indigenous industries to foster youth employment and technology transfer.

This initiative seeks to glean insights from and emulate South Korea’s national transportation model.

The President identified this venture as a pivotal opportunity for a mutually beneficial partnership, heralding the evolution of a pragmatic and dynamic business alliance.

“Nigeria is the largest economy in Africa with an energetic and vibrant youthful population that is eager to make things happen. We must empower them. We are committed to removing any obstacle that may hinder the flow of investments between our two great countries,” affirmed President Tinubu.

The Special Envoy presented President Yoon’s missive to President Tinubu, encapsulating the South Korean President’s directive to his ministries to diligently execute pivotal projects discussed during their meeting on the sidelines of the G-20 Summit.

This includes the finalization of the Trade and Investment Promotion Framework (TIPF) between both nations.

Furthermore, he extended an invitation to President Tinubu to partake in the Africa-Korea Summit slated for June 4–5, 2024, in Seoul.

Additionally, he sought Nigeria’s endorsement for South Korea’s bid to host Expo 2030 in Busan, South Korea.

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