On Saturday, September 14, the Embassy of the Republic of Korea (RoK) hosted the Nepal-Korea Infra Biz Night 2024 in Kathmandu, marking the 50th anniversary of diplomatic relations between the Republic of Korea and Nepal.

The event was graced by Devendra Dahal, Minister for Physical Infrastructure and Transport, who expressed his congratulations on this notable occasion. He highlighted that the past 50 years have been marked by a strong foundation of respect and trust between the two nations, resulting in successful collaboration in various domains.

Furthermore, he urged the Korean government to consider offering long-term soft loans instead of grants to facilitate Nepal's progress and its advancement from least developed country status.

In his inaugural address, Park Taeyoung, the Ambassador of the Republic of Korea to Nepal, stated that the upcoming 2024 Nepal-Korea Infra Biz Night will open new avenues for investment for both Nepalese and Korean stakeholders.

He emphasized that Korean enterprises possess world-class expertise and are prepared to engage in additional projects while contributing to capacity-building efforts in Nepal. The event saw a significant turnout of Korean and Nepalese business leaders, media representatives, and senior government officials.

South Korea has established itself as a middle power that fosters goodwill, friendship, and collaboration among nations. Nepal has reaped the benefits of Korea's economic growth, with Korean firms ranking as the fourth largest foreign investors in the country.

Additionally, numerous Koreans travel to Nepal each year to explore the mountains or visit Lumbini, the birthplace of the Buddha and a significant Buddhist pilgrimage site.

Ambassador Park highlighted the significance of private-to-private partnerships between Nepal and Korea, noting their effectiveness in addressing various challenges within Nepal's infrastructure sector.

He also sought the support of NKCCI in promoting business initiatives and fostering cooperation to enhance investments from Korean companies in Nepal, as well as to establish a network among entrepreneurs from both nations