South Korean industrialists seek proposal for investment in Nepal

KATHMANDU, AUGUST 29: A visiting delegation of industrialists from South Korea, including the ambassador to Nepal, Park Taeyoung, called on the Minister for Physical Infrastructures and Transport, Prakash Jwala, and requested a proposal for investment in the infrastructure sector in Nepal.

During the meeting held yesterday at the Minister's office in Singh Durbar, the delegation reiterated that they were already investing in Nepal's hydropower sector and were now prepared to invest in the infrastructure sector as well.

Ambassador Park stated that South Korea was ready to invest in roadways and railways in Nepal. They expressed their willingness to engage in in-depth discussions about specific projects in this context. He also recalled that although Nepal and South Korea had been prepared for Korean investment in the infrastructure sector back in 2018, a change in the government at that time had prevented the signing of an agreement.

With the establishment of diplomatic ties between Nepal and South Korea reaching its 50-year milestone in a few months, South Korea is keen on commemorating the occasion with investments in Nepal.

In response, Minister Jwala assured the delegation that he would make every possible effort to prepare a proposal for the investment. He emphasized that if substantial agreements on Korean investment in the infrastructure were reached, it would further enhance the bilateral relations between the two countries.

Minister Jwala also expressed gratitude to the Korean government for providing training to Nepali engineers at various times.