During an event organised on the occasion of the National Day of South Korea in Kathmandu, Korean Ambassador to Nepal, Tea- Young Park shared that the Korean government had designated Nepal as a priority cooperation country for 15 consecutive years in development cooperation focusing on vocational training, health, agriculture and ICT.”Over the past 30 years, KOICA has implemented 157 development projects and provided degrees or training opportunities to Korea to around 2,000 Nepali people,” he said. Korea is the fourth largest foreign investor for Nepal. Samsung Electronics has been operating a state of-the-art TV factory since last April.
Park further viewed that a Nepali company, in partnership with Hyundai Motors, was preparing to start Nepal’s first automobile production in Nawalparasi in the first half of next year. “A Korean wig company, Mandumo invested here and hired 680 Nepali women,” Park added. He said bilateral investment treaty with Nepal was necessary to attract more investments by Korean companies, adding, “Korea is working on it.”
He shared that South Korea was in the process of constructing its third hydropower plant in Nepal.The Korean government and companies completed Modi Khola Hydropower Plant in 2000 and Chameliya I in 2018. The 216-megawatt Upper Trishuli-1 Hydropower Plant is under construction for its operation in 2027.Korea will continue to cooperate in realising Nepal’s hydropower development potential.In his address, Park further stated that Nepal had secured the top position among Korea’s 16 EPS partner nations for the first time this year. Throughout this year, opportunities to work in Korea have been provided to 20,000 individuals.
Since 2007, over 100,000 Nepali migrant workers have worked in Korea on equal terms with Koreans.
