Kathmandu, February 1:

South Korean ambassador to Nepal Sang Jung Nam has said that the flow of Korean investment to Nepal has not yet picked up primarily due to the instability in the country.

“The Korean investors are keen for investing in Nepal. With peace and political stability in place, Korean investment to Nepal will increase,”Nam said while addressing a programme organised by Nepal Korea Cooperation Council, yesterday.

He said Korean investments are likely to come about in the hydro-power sector of Nepal in the near future. He further said Nepal and Korea had signed agreements for recruiting Nepali workers for the Korean firms under the employment permit system (EPS) and the processing for the same was moving ahead smoothly. Under the EPS system, Nepali workers will get better pay and perks.

He maintained that Korea been a good friend of Nepal and hoped that Nepal-Korea relations would become stronger in the coming days. He said the council would play an important role in expanding the Nepal-Korea cooperation.

President of the council Arun Ranjit said the council was established to boost Nepal-Korea

relations at the people’s level and exchange cooperation.