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Korean envoy hinges investments in Nigeria on political stability


$10b NLNG Train 7 proves Rivers is safe, says Wike
Ambassador of the Republic of Korea to Nigeria, Kim Young-Chae, at the weekend, sought continuous political stability in Nigeria, maintaining that political stability remains crucial for Korea’s willingness to invest in the country.

Young-Chae stated this during a visit to Rivers State Governor, Nyesom Wike, at Government House, Port Harcourt.

“The biggest concern for Korean companies is political stability. So, political stability is key for Korean companies to decide investments in Nigeria. We want to see continuous political stability in Nigeria and that is what I have seen in Rivers,” he said.

A statement issued by Kelvin Ebiri, Special Assistant on Media to Governor Wike, quoted the Korean envoy as saying that the media usually exaggerate reports of insecurity in Rivers State and other parts of the country.


Young-Chae pointed out that contrary to negative media reports, visiting Rivers, Bayelsa, Adamawa, Ogun and other states of the country showed that most of the places were safer than often reported in the media.

“I have visited Bayelsa, Adamawa and Ogun states and it seems the security situation is exaggerated. In most places, I feel safe. But the media coverage is often exaggerated and making matters worse,” he said.

The ambassador, who was accompanied by his wife and officials of Korean embassy, commended Wike for his leadership over the years, adding that the progress in Rivers State in terms of infrastructure was commendable.

Young-Chae said Korea was seeking more economic cooperation with Rivers State and the rest of the country in construction, oil, gas, agriculture, fishery, as well as cosmetic, medicine and pharmaceutical products.

He declared his readiness to help Nigerian companies penetrate Korean and East Asian markets, which combined Gross Domestic Product (GDP), he revealed, now surpass that of Europe and North America.

He also commended Chairman of the Peoples Democratic Party (PDP) in Rivers State, Desmond Akawor, for being a worthy ambassador of Nigeria to the Republic of Korea.

Responding, Wike thanked Young-Chae for his pragmatic and objective analysis of the security situation in Rivers State.

He disclosed that prior to the commencement of the $10 billion NLNG Train 7 project, he held meetings with the managing directors of Daewoo and Saipem and they expressed satisfaction at the level of security in the state.

“Rivers is one of the safest states in this country today. Security statistics from the Police, State Security Services and the military attest to this fact. So, When people say Rivers State is one of the most unsafe state, ask them where they get their statistics from.

“If the insecurity was so bad in Rivers, the NLNG Train 7 could not have take place, because that is one of the biggest Investment in this country today worth $10 billion. Nobody can invest that kind of funds in an unsafe state,” he stated.


In this article:
Kim Young-ChaeNyesom Wike
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