Kathmandu: South Korean Special Envoy Lee Jeongkyu, representing the Minister of Foreign Affairs of the Republic of Korea, recently visited Nepal to strengthen bilateral cooperation. During his visit, he held high-level discussions with Deputy Prime Minister and Minister of Finance Bishnu Prasad Paudel, Minister of Labour, Employment, and Social Security Sharat Singh Bhandari, and Foreign Affairs Secretary Amrit Bahadur Rai.
The meetings coincided with the 50th anniversary of diplomatic relations between Nepal and South Korea. Both sides underscored the significance of sustained high-level exchanges, reflecting on recent interactions such as a foreign ministerial meeting during the UN General Assembly and the visit of Nepal’s Minister of Industry, Commerce, and Supplies, Damodar Bhandari, to Korea last month.
Discussions highlighted a shared commitment to enhancing economic, development, employment, and tourism cooperation. A key focus was the Korea-Nepal Trade and Investment Promotion Framework (TIPF), signed last December, which aims to boost trade, investment, and industrial collaboration while supporting Korean companies operating in Nepal.
Employment cooperation through the Employment Permit System (EPS) and efforts to strengthen development cooperation and people-to-people exchanges were also emphasized. Since the signing of the Korea-Nepal EPS MOU in 2007, over 110,000 Nepali workers have found employment in Korea, contributing significantly to economic growth in both nations. The Korean government has also supported reintegration programs for returnee workers, fostering entrepreneurship and resettlement in Nepal.
Korea has designated Nepal as a priority partner for Official Development Assistance (ODA) for 15 years, focusing on key sectors such as agriculture, health, vocational training, and climate change. Major Korean companies, including Samsung Electronics and Hyundai Motor, have made substantial contributions to Nepal’s manufacturing and energy sectors, with notable investments like the Upper Trishuli-1 Hydroelectric Project.
The visit by Special Envoy Lee Jeongkyu underscores South Korea’s commitment to reflecting on five decades of friendly ties and setting the foundation for the next 50 years of collaboration. The delegation is also scheduled to visit Korean business operations and development project sites during their stay.
This milestone visit reaffirms the strong partnership between the two nations and their dedication to mutual growth and development.