The bilateral trade between Nigeria and the world’s 10th biggest economy, South Korea, is expected to reach over $2.4 billion by the end of the year.
The Ambassador of the Republic of Korea to Nigeria, Kim Young Chae made this disclosure at the occasion of the Korean National Day in Abuja. He said the growth represented a 20 per cent increase in bilateral trade between both countries.
Kim said the growth in trade between both nations is driven by the activities of about 20 Korean companies that are currently doing business in Nigeria.
He said that both Daewoo ENC, which is a major partner of the Nigerian government in the oil and gas sector and Samsung Heavy Industry invested more than $300 million to build an ultra-modern shipyard at the Apapa Port in Lagos.
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