South Korea to Help Establish Technology Institute in Kenya
Kenya has signed a deal with South Korea that will see the Asian country help set up a technology centre in the East African nation.
The deal was signed on Tuesday during South Korea President Park Geun-hye’s visit to the country. It’s one of numerous agreements reached by the two governments during bilateral talks. During the proceedings, Kenya President Uhuru Kenyatta called for more investments to balance trade between the two countries.
Technology institute plans
South Korea has committed to helping set up the Kenya Advanced Institute of Science and Technology. The facility, which will be established in Konza, will be modelled on the Korea Advanced Institute of Science and Technology (KAIST), the world-renowned facility in Daejeon, South Korea.
The Korean institute was set up with the help of the United States in 1971 and became one of the economic driving forces behind South Korea’s incredible rise from poverty.
The Korea Eximbank is set to provide at least Sh10 billion to establish a similar facility in Kenya.
Kenya keen to learn from South Korea
President Uhuru Kenyatta expressed his country’s eagerness to learn from South Korea’s rise to economic power. Central to the country’s rapid development was its ability to design and manufacture a broad range of technologies – both for domestic and overseas markets. Now the country is a global leader in consumer and industrial technology – something Kenya hopes to replicate in its Vision 2030 campaign.
The Konza institute is among the flagship projects of the campaign, expected to create more than 20,000 jobs. More importantly, it will give Kenya space to innovate its own technological advances.