It is a great pleasure to invite your tonight to Nepal- Korea Infra Biz Night. We gather to celebrate and reinforce the deep and enduring partnership between Korea and Nepal. This year marks the 50th anniversary of our diplomatic relations. And it is indeed a milestone that reminds us of the strength and potential of our collaboration, particularly in the field of infrastructure development.

Korea has built infrastructures in Nepal including three hydropower plants, TIA airport, roads, hospitals, innovation hub-center and vocational training centers. We are on the way to build more like transmission lines and Cyber bureau with Nepal Police. Korea has focused on building up customized vocational training institutions for skilled human resources in five provinces.

Korea’s energy and engineering companies have proudly contributed to a variety of landmark infrastructure projects here in Nepal. From hydro power plants like UT-1 and expressways like KTFT to renewable energy sources and vocational training centers, our Korean companies have played an essential role in advancing Nepal’s development. These projects not only underscore the high technical expertise of Korea’s companies but also their unwavering commitment to supporting the long-term growth of Nepal.

In our collaboration, financial support has also been a key enabler of progress. As a developing country with immense potential, we understand that access to financing is critical for continuing impressive growth trajectory. Nepal has already benefited from the soft loan called EDCF (Economic Development Cooperation Fund) provided by Korean Government in Modi Khola and Chameliya hydro power plants. Korea remains fully committed to extending further financial support through similar soft loans.I believe there is much more we can achieve together.

Our companies, Equipped with world-class expertise, are ready and willing to take part in more projects and improve capacity-building initiatives in Nepal. With each successful project, we further solidify the trust and partnership that our two countries have built over the past five decades.

As we celebrate the 50th anniversary of our diplomatic ties this year, Korea will remain to work together to further impove cooperation across various domains. Korea firmly stands with Nepal to be a good partner preparing to graduate from the LDC status in 2026.

In conclusion, I would like to extend my deepest gratitude to all of you here tonight for your dedication and hard work in fostering our strong partnership. Let us continue to work together to invest in our shared future, and to ensure that the next 50 years are as prosperous as the last.

Park Taeyoung is the ambassador of Republic of Korea to Nepal. Excerpts of his statement delivered at Nepal-Korea Infra Biz Night 2024