Trade between Nigeria and South Korea has surged by 55 per cent in the third quarter of 2024, with exports from Nigeria to Korea rising by 91 per cent.
South Korea’s Ambassador to Nigeria, Mr. Kim Pan-kyu, highlighted these developments during the 2024 Korea National Day.
The event, which commemorated Korea’s independence in 1919, brought together government officials, diplomats, and industry leaders to celebrate the growing partnership.
Ambassador Kim emphasized South Korea’s commitment to enhancing bilateral relations, citing plans to increase Official Development Assistance (ODA) to $10bn by 2030 and allocate $14bn to Africa-based Korean companies within the same timeframe.
“Since Nigeria is a leading economy and the biggest market in Africa, I believe that the partnership between Korea and Nigeria will be one of the most vibrant ones in the years to come,” he stated.
The ambassador also praised the acceptance of Korean culture in Nigeria, highlighting opportunities for collaboration in the creative economy.
He expressed delight at Nigerians’ enthusiasm for the Korean language, K-drama, K-pop, and K-food, recalling events like a K-food contest and a Taekwondo championship that showcased the blending of cultures.
The event also featured prominent Korean brands, including LG Electronics, which showcased cutting-edge innovations like the InstaView Refrigerator and OLED TV.
Attendees were treated to interactive demonstrations highlighting the energy efficiency and smart capabilities of LG’s products. The exhibition included the WashTower, Dishwasher, Air Conditioner, and Audio systems, captivating visitors with insights into future smart home solutions.
Speaking at the event, LG Nigeria’s Public Relations Manager, Mr. Moses Osime, emphasized the company’s role in strengthening ties between Korea and Nigeria.
“What LG brings is the best of Korean high-tech creations to improve the lives of Nigerians. We aim to foster goodwill and present world-class technologies that transform lives positively,” Osime remarked.