NAIROBI: Incoming South Korean Ambassador to Kenya, Young Dae Kwon, has pledged to prioritise trade relations by strengthening bilateral ties between the two countries.
The ambassador noted the great trade potential Kenya has, not only as a destination for South Korean goods but also as an investment hub. Currently, reports show trade between the two countries stands at Sh30 billion with Kenya exporting Sh3 billion worth of goods to South Korea compared to Sh27 billion in exports to Kenya.
In 2013, Kenya exported Sh540 million worth of coffee compared to Sh90 million in 2009. Speaking during a courtesy call visit to Standard Group Chief Executive Officer Sam Shollei, Mr Young said cultural exchange will be the major driver of the bilateral relations.
“We have plans to have a Korean Cultural Week in 2016. Moreso, there are partnerships with local universities for the Kenyan community to learn more about South Korea especially in science and technology,” he said. Mr Shollei described the ambassador’s visit as an opportunity to expand the country’s economic bloc with a regional view of the East African Community.
“We not only look forward to South Korea exporting more to Kenya but also setting up manufacturing plants which will diversify the economic platforms both in the private and public sector,” said Mr Shollei.
Shollei said: “South Korea and Kenya were at the same economic level in the 60s but now they are way ahead of us with their gross domestic product being 20 times more than Kenya’s.”
He asked leaders from the national and county governments to engage the embassy to achieve the country’s developmental agenda. Young emphasised the importance of vigilance to weed out corruption and encourage investment.
