Kenya is looking to boost its trade relations with South Korea by wooing more investors from the Asian country in the upcoming first ever Korea-Africa summit. Additionally, the partnership will provide support for African companies seeking to do business in South Korea and the larger Asian region. Speaking during a pre-summit event in Korea, Kenya’s ambassador to Korea Emmy Kipsoi told the Korean investors that Kenya is open for business. Kenya is already a hub for several Korean companies like Samsung Electronics, Hyundai, Daewoo and Korea Telecom. According to the Kenya Economic Survey 2023, the value of imports from South Korea increased from Sh22.3 billion in 2021 to Sh50.2 billion in 2022, mainly due to increased imports of kerosene type jet fuel.

Source: The Star May 27, 2024 02:30 UTC