South Korean Industrialists Explore Investment Opportunities in Nepal’s Infrastructure Sector

A delegation of South Korean industrialists, led by Ambassador to Nepal Park Taeyoung, has engaged in discussions with Nepal’s Minister for Physical Infrastructures and Transport, Prakash Jwala, regarding potential investments in the country’s infrastructure sector.

The delegation, which visited the Minister’s office at Singh Durbar on Monday, expressed their interest in expanding their investment portfolio beyond the hydropower sector into the broader infrastructure domain. Ambassador Park emphasized that South Korea was keen on investing in Nepal’s roadway and railway projects. He conveyed the delegation’s readiness to engage in comprehensive discussions concerning specific projects in these areas. He also recalled that previous plans for Korean investment in Nepal’s infrastructure sector were delayed due to changes in government.

Highlighting the forthcoming milestone of 50 years of diplomatic ties between Nepal and South Korea, Ambassador Park mentioned that this anniversary presented a unique opportunity to deepen bilateral cooperation through strategic investments in Nepal.

In response, Minister Jwala expressed his commitment to swiftly prepare a comprehensive investment proposal. He acknowledged that substantive agreements on South Korean investment in Nepal’s infrastructure sector would not only foster economic growth but also bolster the friendly relations between the two nations. Minister Jwala also expressed gratitude to the Korean government for its support in training Nepali engineers over the years.

The meeting between the South Korean delegation and Minister Jwala reflects a mutual aspiration to strengthen economic ties and collaboration between Nepal and South Korea. As both nations look forward to the commemoration of half a century of diplomatic relations, this potential investment endeavor holds the promise of propelling the partnership to new heights.