The South Korean Minister of Land arrives in Rwanda to boost bilateral cooperation, particularly in the domains of development and infrastructure. This visit underscores the commitment of both nations to fostering mutually beneficial partnerships that facilitate economic growth and sustainable development, paving the way for enhanced collaboration and knowledge exchange in crucial sectors.
(Photo : Pixabay/Gerd Altmann )
Park Sang-woo's Visit to Rwanda
As an appointed representative for the president, Land Minister Park Sang-woo recently traveled to Rwanda to discuss mutually beneficial relations in building and infrastructure. According to the ministry, the tour, which began on Thursday, Apr. 11, was planned as part of initiatives to expand Korea's building and infrastructure links with the African region as a whole, as well as for arrangements for the effective organization of the upcoming Korea-Africa summit, which is scheduled to take place in Seoul in June.
Park visited Rwandan Prime Minister Edouard Ngirente as a courtesy visit and communicated Seoul's invitation to President Paul Kagame to participate in the summit. Moreover, Park met with Jimmy Gasore, Rwanda's minister of infrastructure. The Ministry of Seoul mentioned that Gasore has requested Korean enterprises' involvement and interest in a variety of development initiatives in Rwanda.
By deploying a joint public-private expert team, the Korean minister reportedly committed to actively sharing Seoul's expertise in laws and regulations regarding smooth housing supply. Additionally, the minister promised to help Rwanda's housing and urban development projects.
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Worldwide Construction Industry in South Korea
Dr. Jimmy Gasore, the Minister of Infrastructure for Rwanda, asserted that the country could gain valuable insights from South Korea, a developed nation in urbanization. In particular, he highlighted the potential for Rwanda to emulate South Korea's approach of building houses higher in the sky, given its limited land resources and high population density. According to Gasore, there was a period when the Koreans lived in an urban environment and economic age comparable to that of Rwanda. However, the Koreans' expertise in urban growth and their investments in Rwanda might make it possible for Rwandans to achieve the same for the country's surface area.
In addition, the Korean investor was briefed on prospective investment opportunities, particularly in the housing sector, and strategies to assist Rwanda with the renovation and expansion of the Kigali-Muhanga road. As part of the 30-year remembrance of the 1994 Genocide against the Tutsi, the South Korean delegation was present in Rwanda to take part in the event on behalf of their nation.
On the other hand, Korea's worldwide construction industry continues to be a significant economic driver and an essential source of foreign money even though domestic patterns have been trending downward. Many major conglomerates, commonly called 'chaebol' corporations, are in charge of Korea's international construction business, which plays an essential role in the country's domestic construction industry. Furthermore, a significant portion of the Middle East and Asia Pacific construction boom is responsible for the cumulative value of construction offshore contracts in Korea exceeding $940 billion. In 2022, around fourteen percent of the entire revenue generated by Korean construction companies came from services rendered in other countries.
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