KATHMANDU, JANUARY 21
South Korean Special Envoy Lee Jeongkyu, representing the Minister of Foreign Affairs of the Republic of Korea, visited Nepal, recently.
Special Envoy held discussions with Deputy Prime Minister and Minister of Finance Bishnu Prasad Paudel, Minister of Labour, Employment, and Social Security Sharat Singh Bhandari, and Secretary of the Ministry of Foreign Affairs Amrit Bahadur Rai to discuss ways to enhance bilateral cooperation, today.
During the meetings, both sides acknowledged the importance of sustained high-level exchanges on the occasion of the 50th anniversary of diplomatic relations between Nepal and Korea. Significant recent exchanges included a foreign ministerial meeting on the sidelines of the UN General Assembly last year and the visit of Nepal's Minister of Industry, Commerce, and Supplies Damodar Bhandari to Korea last month. They agreed to continue such exchanges in the future, according to the press release issued by the embassy.
A shared commitment to strengthening economic, development, employment, and tourism cooperation was highlighted. Both sides pledged to leverage the Korea-Nepal Trade and Investment Promotion Framework (TIPF) signed last December to boost trade, investment, and industrial collaboration while supporting the operations of Korean companies in Nepal, the release further stated.
Discussions also focused on enhancing employment cooperation through the Employment Permit System (EPS) and strengthening development cooperation and people-to-people exchanges.
"Since establishing diplomatic ties in 1974, Korea and Nepal have cultivated a strong and friendly partnership in various fields, including development, economy, employment, and tourism, underpinned by close human exchanges over the past 50 years."
Korea has designated Nepal as a priority partner for Official Development Assistance (ODA) for 15 consecutive years, focusing on agriculture, health, vocational training, and climate change.
Major Korean companies like Samsung Electronics and Hyundai Motor have significantly contributed to Nepal's manufacturing industry by setting up assembly plants, while Korea has also made substantial investments in the energy sector, including the Upper Trishuli-1 Hydroelectric Project, the release added.
Since the signing of the Korea-Nepal EPS MOU in 2007, over 110,000 Nepali workers have found employment in Korea, contributing to economic growth in both countries. The Korean government also supports reintegration programs for returnee migrant workers to promote entrepreneurship and resettlement in Nepal.
This visit by Korea's Special Envoy underscores the Korean government's strong commitment to reflecting on the past 50 years of friendly cooperation with Nepal and further solidifying its partnership with Nepal as a key partner country for the next 50 years of mutual growth and collaboration, the embassy said.
The delegation led by Lee Jeongkyu will also visit Korean business operations and development cooperation project sites during their stay.
