Korean ambassador urges Ugandans to tap into lucrative market
Korean Ambassador to Uganda, Mr. Park Sung-Soo, immerses himself in the rich aroma of Uganda's finest coffee during his tour of the International Trade Fair in Kampala last week. Photo | Jane Nafula
What you need to know:
- Mr Sung-Soo emphasized Korea's commitment to furthering economic relations with Uganda, demonstrated by the Embassy's participation in UMA Trade Fairs since 2022.
The Korean Ambassador to Uganda, Mr Park Sung-Soo, has called upon Ugandans to aggressively explore the Korean market, boosting trade and economic cooperation between the two nations.
"This year, we have successfully organised online business meetings between Korean and Ugandan businessmen and companies for the very first time," Mr Sung-Soo said in a statement after touring stalls at the Uganda Manufacturers Association (UMA) showgrounds in Lugogo. "I hope this will be the beginning of active business-to-business interactions and building stronger economic ties between our two countries."
To facilitate this, the Korean Embassy launched an online platform, coordinated by the Korea Trade Investment Promotion Agency (KOTRA) in Nairobi. This platform enables online business meetings between Korean and Ugandan entrepreneurs.
Ms Subin Park, Economic and Cultural Affairs Officer at the Korean Embassy, highlighted the benefits of online interactions.
"Many Ugandan corporations want to know how to export products to Korea or import products from Korea to Uganda. We support them in exporting and advertising their brand through discussions with Korean corporations," she said.
She emphasised the quality of Ugandan coffee, which Koreans may not be aware of due to physical distance. Online discussions will help Ugandans penetrate the market and showcase their offerings.
Some of Uganda's notable exports to Korea include coffee, tobacco, tea, spices, and plastics. The Korean government supported 24 small-scale enterprises to participate in the International Trade Fair, showcasing their innovations.
Companies like King of Kings multi-Investment Consultancy farm and Moo me Gen Oils of Hope have benefited from Korean government support. Mr. Alii Walter, Executive Director of King of Kings, noted that Korean assistance improved the packaging of cassava flour, now selling at Shs5,000 per kilo.
Ms Lydia Nakayenze from Moo me Gen Oils of Hope credited the Korea International Cooperation Agency (KOICA) for technical support in branding, formulation, and marketing.
Innovative solutions have also emerged, such as Safe Bangle Technologies' real-time domestic violence reporting bracelet. Mr Saul Kabali, Chief Operations Lead, credited the Korean Youth Academy for linking him with experts who helped refine the innovation.
The safe bangle, priced at Shs150,000, helps traders travel to secure destinations. With these initiatives, Uganda and Korea are poised to strengthen economic ties and unlock new opportunities for growth and cooperation.
"The quality of Ugandan coffee is quite high, but Koreans might not know that because of the physical distance," Ms Subin said. "Online discussions will strengthen the capacity of Ugandans to penetrate the market but also enable Koreans to know what Uganda has to offer."
Mr Sung-Soo emphasised Korea's commitment to furthering economic relations with Uganda, demonstrated by the Embassy's participation in UMA Trade Fairs since 2022.
