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Investment: Korea aims to consolidate its partnership with Algeria

On Monday, the Korean ambassador to Algeria, You Ki-Jun, expressed his country's optimism about consolidating its economic and trade relations with Algeria, by exploring new bilateral investment opportunities.

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The South Korean ambassador stated that the future between Algeria and South Korea is promising, noting that Algeria is the only African country with which South Korea has a strategic partnership. He highlighted the importance of cooperation in the energy, technology, and infrastructure sectors. He emphasized the mutual benefits of the two countries' economies to strengthen cooperation. Trade between the two countries reached $3.4 billion in 2023, with a trade balance favourable to Algeria. The ambassador also confirmed that South Korean carmakers would be returning to Algeria.