President Bola Tinubu has told Won Hee-Ryong, the Special Envoy of South Korean President, Yoon Suk Yeol, that Nigeria boasts a youthful and energetic population eager to drive progress.
Tinubu, while receiving Hee-Ryong at the State House on Friday, reiterated his commitment to eliminating obstacles that could hinder flow of investments between Nigeria and South Korea.
The discussions also touched on expanding trade opportunities across various key sectors of Nigeria’s economy.
The meeting was a continuation of the prior discussion between President Tinubu and his South Korean counterpart during the G-20 Leaders’ Summit in New Delhi, India.
Hee-Ryong delivered a letter to Tinubu outlining President Yoon’s instructions to South Korea’s ministries to implement key projects discussed during the G-20 Summit meeting.
Tinubu’s spokesman, Ajuri Ngelale, said the projects include the finalization of the Trade and Investment Promotion Framework (TIPF) between the two nations.
Tinubu commended the East Asian country’s commitments to the prior discussions, emphasizing their significance to the economic and technological partnership between the two nations.
“I 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.
“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,” Tinubu told his guest.
According to the President, Nigeria also aims to emulate South Korea’s transportation system and welcomes greater South Korean investment in local industries to facilitate youth employment and technology transfer to the country.
Ngelale further revealed that President Tinubu received an invitation to attend the Africa-Korea Summit scheduled for June 4–5, 2024, in Seoul.
Hee-Ryong disclosed that his country also seeks Nigeria’s support for its bid to host Expo 2030 in Busan, South Korea.