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S. Korean firms sign deals worth US$24 mln with Ethiopian partners

According to Yonhap News,

(ADDIS ABABA=Yonhap News) South Korean businessmen who are accompanying President Park Geun-hye on her African visit signed deals worth US$24 million with Ethiopian partners, Seoul's presidential office said Saturday.

The tie-ups were reached at a gathering between executives of 40 South Korean companies and more than 150 Ethiopian firms at a hotel in Addis Ababa on Friday.

Business executives have come along on President Park's state visit to Ethiopia to explore new business opportunities in the African country. The president has been at the vanguard on calling for expanded cooperation between the East African state and Asia's fourth-largest economy.

Many South Korean companies want to make inroads into the large untapped market as growth in other parts of the world has tapered off.

Ethiopia is the first stop on her swing through Africa. The trip is set to take her to Kampala, Uganda, and Nairobi, Kenya, for talks with Ugandan President Yoweri Museveni and Kenyan President Uhuru Kenyatta.

Copyrights Yonhap News. All Rights Reserved.

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Source: Yonhap News (May 28, 2016)
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