Nepal-Korea Infra Biz Night 2024 held in Kathmandu

The Embassy of the Republic of Korea (RoK) organized the 2024 Nepal-Korean Infra Biz Night in Kathmandu on Saturday to commemorate the 50th Anniversary of Diplomatic Relations between the Republic of Korea and Nepal.

Minister for Physical Infrastructure and Transport Devendra Dahal, chief guest of the event, extended his congratulatory message on the 50th Anniversary of the establishment of diplomatic relations between Nepal and the Republic of Korea.

He pointed out that over the past 50 years since the establishment of diplomatic relations both countries have always respected and trusted each other as a good neighbor and friendly coexistence and mutually beneficial cooperation in various fields that have yielded positive results.

He asked the government of Korea for a long term soft loan rather than a grant for prosperous Nepal and graduation from the least developed country.  

Delivering his welcome speech, Ambassador of the RoK to Nepal Park Taeyoung remarked that the 2024 Nepal-Korea Infra Biz Night was organized for new opportunities for both Nepali and Korean investors.

He further said that Korean companies are equipped with world-class expertise then ready to take part in more projects and improve capacity-building initiatives in Nepal. As usual, a large number of Korean and Nepalese business people, media personnel, senior government officials attended the program. Devendra Dahal, Minister of Physical Infrastructure and Transport, Dipak Khadka took part in the event as a chief guest.

South Korea has emerged as a middle power that fosters goodwill, friendship, and collaboration among nations. Nepal has also reaped benefits 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 mountains or visit Lumbini, the Buddhist pilgrimage site and birthplace of Buddha.

Ambassador Park emphasized the role of private to private partnership between Nepal and Korea, and has been an effective way to spearhead many challenges in the infrastructure sector of Nepal. He also asks for support in the business promotion and cooperation from NKCCI to further promote Korean companies' investment in Nepal and to build a network between the entrepreneurs of the two countries.