Korea
29 April 2007
South African Deputy President Phumzile Mlambo-Ngcuka, supported by Deputy
Foreign Minister Aziz Pahad, will pay an official visit to South Korea
scheduled from Wednesday to Friday, 2 to 4 May 2007. Deputy President
Mlambo-Ngcuka will be hosted by Prime Minister Han Duck Soo.
Deputy President Mlambo-Ngcukaâs delegation is expected to include Ministers
Ivy Matsepe-Casaburri, Membathisi Mdladlana and Buyelwa Sonjica. Deputy
Ministers Gert Oosthuizen, Rob Davies and Derek Andre Hanekom will also join
the delegation.
Deputy President Mlambo-Ngcukaâs visit to South Korea comes within the
context of national efforts to ensure a faster and shared economic growth
through the Accelerated and Shared Growth Initiative for South Africa (AsgiSA)
and the Joint Initiative for Priority Skills Acquisition (JIPSA).
Accordingly, Deputy President Mlambo-Ngcukaâs visit to South Korea will
focus on the promotion of ASGISA, and is also aimed at obtaining institutional
support for JIPSA.
Issues on the agenda of discussions between Deputy President Mlambo-Ngcuka
and Prime Minister Han are also expected to include, among others:
* the status of bilateral political, economic and trade relations between both
countries
* a briefing by Deputy President Mlambo-Ngcuka on the African agenda including
the African Union and the implementation of New Partnership for Africa's
Development
* increased co-operation in the field of science and technology
* global issues of common interest including nuclear non-proliferation and the
comprehensive reform of the United Nations.
While in South Korea, Deputy President Mlambo-Ngcuka is also expected to pay
a courtesy call on President ROH Moo-hyun.
Deputy President Mlambo-Ngcuka will also address an investment seminar,
visit the Advanced Institute of Science and Technology, hold discussions with
representatives of the Division for International Higher Education, visit the
LG Electronics Industrial site and lay a wreath at the National Memorial
Board.
Deputy President Mlambo-Ngcuka is expected to return to South Africa on
Saturday, 5 May 2007.
Bilateral economic relations
There is potential for the following South African products and services
within the Korean market:
* agro-processed goods: meat, vegetables, mohair, wine, juice and tea
* automotive parts: aftermarket for imported foreign cars and original
equipment manufacturer
* jewellery: pieces, gold, diamonds, platinum
* chemicals
* pharmaceuticals, skin and hair care products
* arts and craft
* capital equipment/services
* electro technical equipment/service
* defence equipment
* services/franchising
Korean investment in South Africa is in total approximately R5,8 billion.
Sectors attracting Korean investment are varied and include, among others, the
manufacture of audio equipment, stainless steel, auto components, nuts and
bolts, building material as well as leather garments and footwear.
Perhaps the best testimony of the increasing Korean interest in South Africa
in recent years and a sign that further Korean investments will follow in
future has been the establishment in South Africa of branch offices by several
Korean conglomerates, for example LG, Samsung, Hyundai and SK.
Enquiries:
Ronnie Mamoepa
Cell: 082 990 4853
Issued by: Department of Foreign Affairs
29 April 2007
