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KATHMANDU, Sept 15: The Embassy of the Republic of Korea (RoK) in Nepal organized the 2024 Nepal-Korea Infra Biz Night in Kathmandu on Saturday to commemorate the 50th Anniversary of Diplomatic Relations between the Republic of Korea and Nepal.
In his capacity as the Chief Guest of the event, Minister for Physical Infrastructure and Transport Devendra Dahal extended his congratulatory message on the 50th Anniversary of the establishment of diplomatic relations between Nepal and the Republic of Korea. He highlighted that over the past 50 years, both countries have consistently respected and trusted each other, fostering friendly coexistence and mutually beneficial cooperation in various fields, which has yielded positive results. He also requested long-term soft loans from the Korean government, rather than grants, to support Nepal’s prosperity and its graduation from the least-developed country status.
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In his welcome speech, Ambassador of the RoK to Nepal, Park Taeyoung, remarked that the 2024 Nepal-Korea Infra Biz Night was organized to create new opportunities for both Nepalese and Korean investors. He further stated that Korean companies, equipped with world-class expertise, are ready to participate in more projects and contribute to capacity-building initiatives in Nepal. A large number of Korean and Nepalese businesspeople, media personnel, and senior government officials attended the program.
South Korea has emerged as a middle power that fosters goodwill, friendship, and collaboration among nations. Nepal has benefited from Korean economic development, with Korean companies making significant investments in the country, ranking as its fourth-largest foreign investor. Similarly, many Koreans visit Nepal annually to hike its mountains or visit Lumbini, the Buddhist pilgrimage site and birthplace of Buddha.
Ambassador Park emphasized the role of private-to-private partnerships between Nepal and Korea, stating that they have been effective in addressing many challenges in Nepal’s infrastructure sector. He also called for support in business promotion and cooperation from the Nepal-Korea Chamber of Commerce and Industry (NKCCI) to further encourage Korean companies' investment in Nepal and to strengthen the network between entrepreneurs from both countries.
