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Korea, Ethiopia draw closer

Korean companies are keen to invest in Ethiopia since they see immense possibilities.Ethiopia is the second most populous country in Africa and a leader in the east African region.

The fourth Korea-Africa Forum will be held in December 2016 in Addis Ababa, Ethiopia.

At present, the Korean textile company ShinTS is operating a textile factory in the Bole Lemi industrial complex, and another world class Korean textile company is giving positive consideration to new investment.

Korean investors are looking at the textile and steel industry in Ethiopia apart from other promising areas for future investment .They are expecting that the bilateral relationship will elevate to a new level in every aspect, such as politics, economy, culture etc.

The economies of both countries are highly complementary, taking into consideration the capital resources and technology of Korea and the abundant and competitive labor of Ethiopia.

Korea will launch a development project called Korea Aid in Ethiopia. This will be inclusive and share Korean economic and social development experience. It will foster bilateral and multilateral cooperation in a variety of fields.

Korea is trying its best to provide meaningful contribution to the developing process of this African country through multiple channels.