Algerian-Korean Cooperation: South Korean Ambassador Discusses Opportunities for Economic Growth
BY: Hana Saada
Algiers- In a noteworthy gathering at the National School of Administration (ENA), the South Korean Ambassador to Algeria, You Ki-Jun, addressed the burgeoning cooperative relations between his nation and Algeria, emphasizing the abundant opportunities for mutually beneficial economic collaboration. During the conference, Ambassador You Ki-Jun outlined the critical importance of nurturing these prospects within a sustainable framework of cooperation spanning multiple sectors.
With a keen focus on economic growth, the South Korean diplomat underlined the significance of seizing these available opportunities for economic operators in both countries. In particular, he underscored the immense potential for collaboration in the automobile industry, manufacturing, information and communication technology (ICT), and renewable energies.
Ambassador You Ki-Jun expressed his optimism about the automobile sector’s future in Algeria, characterizing it as an emerging industry with considerable growth potential. “There are several sectors offering numerous opportunities for mutual economic growth, in particular, the automobile industry,” he remarked. “South Korea has a globally recognized mastery of automotive technology and industry, while Algeria boasts rich natural resources and a burgeoning human capital.”
Turning his attention to the energy sector, the diplomat emphasized the pivotal role Algeria plays as a key supplier of crude oil to South Korea. In 2021, South Korea imported a substantial 8.58 million barrels of crude oil from Algeria, solidifying the country’s position as South Korea’s 14th largest crude oil supplier during that year. Ambassador You Ki-Jun further highlighted Algeria’s remarkable presence as the 13th largest recipient of overseas construction orders from South Korea.
The discourse by Ambassador You Ki-Jun serves as a testament to the growing synergy between Algeria and South Korea, one that transcends mere diplomatic ties and extends into the realms of economic development, technology exchange, and energy cooperation.
