Korea seeks partnership with Nigeria to enhance 4th Industrial Revolution

The Republic of Korea says it is seeking collaboration with the Nigerian Government under the leadership of President Bola Tinubu on various areas to enhance and lead the fourth industrial revolution.

Mr. Jang Sungmin, the Special Envoy of the President of the Republic of Korea, Mr. Yoon Suk Yeol, disclosed this at a media parley on Tuesday in Abuja.

“Yoon Suk Yoel has sent me as an Envoy to this great nation because it is the leader of Africa, has the biggest market, the largest population, the most natural resources, and the most arable land.

“Nigeria has all the criteria for economic power in Africa, and Korea is a country that has all the technologies, development know-how, and economic prosperity to lead the fourth Industrial Revolution.

“Korea is already leading that industrial revolution. So, President Yeol feels that by combining forces, Korea and Nigeria's cooperation will not only lead to prosperity and faster economic development in Nigeria but also in Africa.

“The composition of my delegation shows you that President Yeol is committed and willing to find better ways to cooperate with Nigeria.

“Specifically, we look towards a younger generation's work force and the natural resources that Nigeria has, especially to enhance and lead the World’s fourth Industrial Revolution,” Sungmin said.

The envoy reiterated that Korea has the technologies, knowledge, skills, and human resources for technological transfer, especially in the areas of agriculture, cyberspace, security, biotechnology, and oil refinery, saying “Korea looks forward to a future with Nigeria”.

He further explained that as Nigeria’s new leadership under Tinubu has opened up the country for business, Korea is interested in investing more in Nigeria.

Sungmin explained that President Yoel’s comprehensive diplomacy and foreign policy are about the global capitalist state, which lies on three pillars.

“It is to enhance cooperation, especially with countries that share our common values of Liberty, peace, and Prosperity. Those were the three pillars that underline the foundation of our foreign policy.

“We will like to share and extend our cooperation, especially with countries that share these common values.

“We believe that Nigeria, especially the new government of Tinubu and Vice President Kashim Shettima, is a government we can share these common values with to enhance new economy cooperation.

“Korea used to receive aid from other countries. That is how we became the 10th-largest economy in the world.

“Now we are using that position to give back to the international community. So, we look forward to cooperation with Nigeria in this sense,” he said.

Contributing, the Vice President of SK Company in Korea, Mr. Guillaume Barthe-Dejean, said the post-Korean War was characterized by fast development, which is a product of collaboration between the public and private sectors.

He said the private sector in Korea, like SK, Samsung, and others, has supported the Korean Government in developing economic policies, adding that the model allows Korea to become a powerhouse.

“Today, Korea is the 10th largest economy in the world, the fourth largest exporter in the world, and the country that is leading the 4th Industrial Revolution.

“SK is happy to be in Nigeria. Bonnie Light Crude irrigates the world economy, and Nigeria has resources and fuel that could power the 4th Industrial Revolution.

“In the last five years, the world experienced decline in the supply chain globally, and I think for this reason Korean companies would be interested to partner with countries in Africa to stabilise the supply chain,” Barthe-Dejean said.

Supreme News reports that those in the delegation include Ambassador of the Republic of Korea to Nigeria, Mr KIM Young-chae; Deputy Secretary President Yeol for Future Policy, Mr YOO Chang-ho; and Barthe-Dejean

Others were Chief Financial Officer, LG Electronics Nigeria Corporation, Mr. Kim Inkyu; Economic Attaché, Korean Embassy in Nigeria, Mr. Choi Jungwon; and Ms. Park Hyesong of the Korea International Development Agency.