South Korean companies are targeting Mozambique with the aim of increasing and diversifying their investments in the country. According to the O Económico portal, the strategy aims to take advantage of business opportunities in various sectors of the Mozambican market.
The information was announced on Thursday (6) in the South Korean capital of Seoul by the president of the Korea International Trade Association (KITA), Jim Sik Yoon, after signing a memorandum of understanding with the Mozambican Chamber of Commerce (CCM), represented by Álvaro Massingue.
Jim Yoon said that KITA, which represents more than 72,000 companies, plans to expand its presence in African countries, with Mozambique being one of the favoured destinations due to its business environment. ‘Mozambique presents a market with ample opportunities that we want to capitalise on,’ said Yoon.
Álvaro Massingue, president of CCM, emphasised Mozambican potential in sectors such as agriculture, trade, tourism and technology, which were presented to South Korean companies during the summit. ‘We want to show the world the opportunities that Mozambique offers and attract more investment to our country,’ he said.
According to the information, the memorandum signed between CCM and the Korean Chamber of Commerce and Industry (KCCI) establishes a framework for partnerships in various sectors, including technical assistance and the organisation of business events, to promote ongoing exchanges between the two countries.
To intensify commercial ties, the CCM has opened a branch in Korea under the leadership of Chu Lee, who also acts as Mozambique’s honorary consul in that country. ‘This branch will facilitate collaboration and exchange between companies from the two countries,’ reads the note.
During the summit, more than 30 Mozambican companies, both public and private, took part to showcase the country’s potential and establish business links with Korean companies. The Mozambican delegation included entrepreneurs from all the provinces, with the aim of exploring opportunities in the areas of energy, information and communication technologies and hospital equipment.
Mozambique and South Korea currently collaborate as non-permanent members of the United Nations Security Council, strengthening ties between the two countries and enabling future strategic partnerships.
