South Korea Promises Tighter Trade Relations With Kenya

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South Korean ambassador, Young Dae Kwon, has promised to strengthen trade relations with Kenya in a visit to the East African country.

Speaking at a courtesy call visit to Standard Group Chief Executive Officer, Sam Shollei, Young spoke of further trade between the two countries and the proposition of Kenya as an investment hub. The Korean ambassador highlighted cultural trade as a driving force behind extending bilateral relations.

 

 

Korean culture week coming to Kenya

“We have plans to have a Korean Cultural Week in 2016. Moreso, there are partnerships with local universities for the Kenyan community to learn more about South Korea especially in science and technology,” Young said.

Standard Group’s Shollei was quick to point out the economic history of South Korea as a model for Kenya to replicate.

“South Korea and Kenya were at the same economic level in the 60s but now they are way ahead of us with their gross domestic product being 20 times more than Kenya’s,” he said.

South Korea has seen huge economic growth over the last fifty years, taking itself from a poverty-stricken nation to one of the world’s leading economies.

 

A warning on corruption

South Korea’s economic success story is one for all African nations to aspire to, but it hasn’t come without its costs. The county’s sharp financial rise was embedded with corruption, political instability and the rise of a small, elite monopoly of power in the nation.

Young emphasised the importance of weeding out corruption in Kenya – a problem South Korea is only now getting a handle on and an issue Kenya has become all too famous for. Kenya, as a developing nation, can learn  lot from the triumphs South Korea has achieved over the last five decades – but also the growing pains it has endured.

 

Featured image:

A view of Nairobi from the Kenyatta International Conference Centre” by BobokineOwn work. Licensed under CC BY-SA 3.0 via Commons.