Korea to launch initiatives to make Nepal prosperous

Kathmandu:  The Republic of Korea is keen to launch initiatives to make Nepal Prosperous and its people happy, Ambassador Mr. Park Taeyoung said.

Welcoming guests at the National Day Reception in Soalee Hoteि yesterday, Ambassador Taeyoung said, ‘Made in Nepal, Build in Nepal and startup in Nepal and connect with Nepal’  as steps to realise its aspiration for a ‘prosperous Nepal and Happy Nepali,’

This year marks the 50th anniversary of diplomatic relations between the Republic of Korea and Nepal. In his address to the assembly that included vice President Ram Sahay Yadav, ministers, diplomats, and business leaders, the ambassador said it was a special occasion that also marked the commemoration of the founding of the first nation-state on the Korean Peninsula in 2333 B C.

Delving into the bilateral context, he said this year marked the 50th anniversary of the diplomatic relations between the two countries since 1974, calling the events that followed as ‘enjoyable journey together.’

‘At this semi-centennial conjunction, preparing for the next 50 years, I like to make commitment to expanding our friendship and cooperation in future. ‘, he announced.  Elaborating. he said, first of all, under the Made in Nepal vision,

Korea has committed to manufacturing products in Nepal.” After Samsung Electronics’ assembly line last year, Laxmi-Hyundai opened its factory for Nepal’s first automobile production last May. Today, all of you could have a look at tangible and visible outcomes of Made in Nepal by Nepal-Korea partnership.,” he said , adding  Korea was  the third largest foreign investor for Nepal last fiscal year.

‘Made in Nepal is all about investment, job creation and technology transfer. We want to see more. In order to achieve this goal, a bilateral investment treaty with Nepal and better FDI favorable nenvironment is essential to attract Korean companies to do business here.” Ambassador  Taeyoung further said.

‘Next step was ‘Build in Nepal’ under which  Korea has built infrastructures in Nepal including three hydropower plants, TIA airport, roads, hospitals, innovation hub-center, and vocational training centers.’ ‘ We are on the way to build more like transmission lines, and Cyber-crime bureau with Nepal Police. Korea has focused on building up customized vocational training institutions for skilled human resources in five provinces.’ he said.

‘Start up in Nepal’, he said , was the third form of Korean vision and action towards Partnership in Nepal. ‘ He said that  Since 2007, over 100,000 Nepalese migrant workers have worked in Korea on equal terms with Koreans through the EPS program.

‘Returning home back, they have made a fortune and learned skills from Korea. For returnee workers equipped with these two weapons, we want to promote their entrepreneurship and support preparation to start their own businesses in Nepal. We are working for this purpose along with Government of Nepal, Korean returnee association and KOICA team,” he added.

Lastly,  under the ‘Connect with Nepal; theme and action , ‘ Korea has enhanced the people to people exchange with Nepal’ under which 3,000 Korean volunteers and about 30,000 Korean tourists visit Nepal annually. in addition to about 2,500 Nepali studying in Korea under scholarship programme,

He said while they are acting  to connect Korea and Nepal,  about 70,000 Nepali people are staying in Korea at the moment which he hoped, will strengthen  people to people foundation in years ahead. He further assured that Korea would wish to work together to deepen cooperation across various domains and stand by Nepal to be a partner after  it  graduates from the LDC status in 2026 .