South Korea, Nigeria, Partner In Creating 53,000 Jobs In 5 Years


In order to enrich the development of the cultural contents industry between Nigeria and Korea, the Republic of South Korea has announced plans to establish a Cultural Creation Convergence Belt (CCCB) which would create 53,000 job opportunities in Nigeria.

South Korean Ambassador to Nigeria, Mr Noh Kyu-duk, at a media chat with newsmen on Wednesday in Abuja, revealed that this was part of South Korea’s efforts to foster economic relations between the two countries.

The CCCB, which is expected to create 53,000 jobs over the next five years, would comprise of six institutions, namely; Creative Centre for Convergence Culture (cultural contents planning), Creative Economy Leader Venture (commercialization) and K-Culture Valley. Others are K-Experience and K-POP, Arena (realization and consumption) and Cultural Creation Academy (Human Resource Development).

According to Kyu-duk, the annual trade volumes between Nigeria and Korea had exceeded $4.4 billion in 2014, making Nigeria Korea’s 52nd largest export market and the 26th biggest import market.

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About 8,000 Nigerians were being employed by more than ten major Korean companies in the key business sector such as oil and gas, electronics and automobiles, the ambassador revealed.

The Ambassador who expressed optimism that Korean companies will contribute to Nigeria’s economic growth by increasing trade volume and their investment in the country, added that the Korean Government is interested in partnering with the Nigerian government in its reform policy areas.

Ambassador Noh Kyu-duk also said that the Korean international Cooperation Agency (KOICA) had provided Nigeria with development aid since 1991, mostly in areas of education, vocational training and e-government.

KOICA was building junior and senior secondary model schools in Abuja worth $150 million and also building capacity of e-government worth $8.56 million.

A vocational training Centre in Lokoja, the Kogi capital, and a rice processing centre in Bida, Niger, among many others have also been established.

In addition, more than 1,500 Nigerians have been invited to Korea to attend various kinds of training for human resource development.

According to the ambassador, Korea’s total amount of cultural export has surpassed $5.7 billion in 2015 and will continue to be a new economic growth engine.

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