Nigeria has displaced South Africa as the major trading partner of the Republic of Korea on the African continent, Director, Korea-Africa Foundation, Lyeo Woon-ki has said.
Lyeo, who disclosed this in Abuja at a media parley, explained that trade between Nigeria and Korea was $2 billion in 2021 but that the present figures indicate that the trade volume for 2022 has reached over $1.5 billion as of June this year which surpasses the trade volume between Korea and South Africa.
“The trade volume between Nigeria and Korea is bigger than between Korea and South Africa. In 2021, the figure was around $2 billion and by the half of this year, the figure has gone beyond $1.5 billion. All of these happened despite the COVID-19 pandemic and limited trading..."
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