Nigeria has called on South Korean companies to increase investments in manufacturing, agriculture, technology and shipbuilding to boost local production, create jobs and accelerate economic growth.
The appeal was made by Babagana Wakil, Chief of Protocol at the Ministry of Foreign Affairs, who represented the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, at a reception marking Korea’s National Day in Abuja on Friday.
Wakil said South Korea’s achievements in industrialisation, technology and infrastructure offered valuable lessons for Nigeria as it pursued economic diversification.
He urged Korean companies to explore opportunities in local manufacturing, assembly plants, shipbuilding and other industries capable of strengthening Nigeria’s industrial base.
He also highlighted the need for Korean expertise in agricultural mechanisation, particularly rice production and processing, to improve productivity and enhance food security.
Other priority areas identified included digital technology, infrastructure, education, technical training, maritime security and fisheries.
Wakil reaffirmed the Federal Government’s appreciation for South Korea’s contributions to Nigeria’s economic development and skills acquisition, stressing the importance of expanding bilateral trade and investment for mutual benefit.
In his remarks, South Korean Ambassador to Nigeria, Jeong Yoan, highlighted initiatives supported by his country to promote youth entrepreneurship, education and employment in agriculture, describing Nigeria’s youthful population as a major asset for development.
He disclosed that the Korea International Cooperation Agency (KOICA), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP) broke ground in September on the Abuja Centre for Entrepreneurship.
According to him, the centre is expected to support hundreds of young entrepreneurs and start-ups in transforming innovative ideas into viable businesses.
Jeong added that South Korea’s Smart School project, implemented in partnership with the Universal Basic Education Commission (UBEC), had reached 8,000 children and provided training for more than 300 teachers and school leaders.
In the agricultural sector, he said KOICA and the Food and Agriculture Organisation (FAO) were implementing programmes aimed at creating green jobs for young Nigerians.
He further disclosed that approximately 2,000 Nigerian officials had received training in South Korea through KOICA-supported programmes.
“Our shared goal is simple: more opportunities for young people, stronger local businesses, and better lives for our people,” the ambassador said.
Jeong listed Daewoo Engineering & Construction, LG, Samsung, Hyundai and Solpia among South Korean companies operating in Nigeria across sectors including energy, manufacturing, clean water and digital technology.
He said the Korean Embassy, in collaboration with the Korea Trade-Investment Promotion Agency (KOTRA), would continue to promote investment, technology transfer and local employment.
The ambassador stressed that South Korea respected Nigeria’s development priorities and sought to work with the country as an equal partner, noting that stronger commercial relations could generate employment, strengthen local enterprises and promote shared prosperity.
Nigeria and South Korea established diplomatic relations in 1980, with cooperation spanning trade, investment, education and technical assistance.
Nigeria is seeking to build on the longstanding relationship to attract additional capital, technology and expertise to support industrial expansion, economic diversification and employment generation.
