According to Yonhap News,

(SEOUL=Yonhap News)South Korea said Friday it seeks to forge deeper economic ties with Kenya in line with its efforts to diversify its trade portfolio and penetrate deeper into the African market.

Vice Industry Minister Park Jin-kyu met his Kenyan counterpart Betty Maina in Seoul to discuss a wide array of economic issues, according to the Ministry of Trade, Industry and Energy.

During the meeting, Park said South Korea wishes to expand its presence in Kenya's consumer goods and biohealth segments, as the launch of the African Continental Free Trade Area is expected to speed up the economic growth of the continent.

Trade between South Korea and Kenya came to US$257 million in 2020, up 32 percent from a year earlier, according to the data compiled by the Korea International Trade Association.

South Korea mainly shipped steel, synthetic resin and other chemical products to the African nation. In return, Asia's No. 4 economy imported foodstuffs, including coffee products, along with copper goods.

colin@yna.co.kr


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Source: Yonhap News (July 16, 2021)