Lesotho-South Korea Investment Briefing Session to strengthen bonds of economic co-operation

Maseru, Lesotho – Busan Mayor, Park Heong-joon and a Korean Delegation that is part of South Korea’s Presidential Special Envoy accompanied by Samsung Africa CEO, Bumsuk Hong – visited Lesotho in an effort to attend an Investment Briefing Session that was planned for 24 February 2023.

The main aim for this Investment Briefing Session that was organised by the Lesotho National Development Corporation (LNDC) under the Department of Trade, Industry and Tourism was to strengthen further bonds of economic co-operation of the existing strategic partnerships and bilateral agreements between South Korea and Lesotho. During this briefing session, an invitation was also extended by the Presidential Envoy from South Korea that met with Lesotho’s Honourable Prime Minister Sam Matekane, its foreign affairs and finance ministers to attend South Korea’s special summit with Africa scheduled for 2024.

These kinds of engagements and partnerships are crucial to Lesotho’s socio-economic development aspirations. Lesotho has made great progress in the field of education and has ambitions to build a better future for its youth through education. As a long and reliable partner with a diplomatic relationship since 1996, the government of South Korea is planning to open vocational training centres, improve educational environments, help with the customs modernisation project and launch afforestation projects in Lesotho.

Hlubi Shivanda, Director: Business Operations and Innovation and Corporate Affairs at Samsung South Africa said: “All of this fits perfectly with Samsung’s ethos – the company believes that the future of any country lies in the hands of young people and that education gives them the greatest chance to realise their full potential. As Samsung, we are heavily invested in the development of people and communities and believe that this can only be achieved through working together with others.”

Recently, the company launched a partnership with Lesotho’s Lerotholi Polytechnic for the Samsung Innovation Campus (SIC) to boost youth employment in the technology sector. Samsung plans to continue seeking opportunities to collaborate with Lesotho government to further grow the country’s economy.

“This visit has provided both Samsung and South Korea an opportunity to re-affirm our commitment to assisting Lesotho achieve its education-related goals. Samsung is committed to empowering the youth of Lesotho with the skills that they will need to drive and effect meaningful change,” added Shivanda.

The visit has also allowed South Korea to yet again seek Lesotho’s support for the World Expo to be staged in Busan in 2030. World Expos focus on creating a better future for all humankind – this is in line with Lesotho’s economic developmental aspirations and Samsung’s vision of Enabling People for the upliftment of humanity through innovation, industrialisation and digitalisation.

Samsung proudly supports Busan’s bid for the World Expo 2030.