Trade between South Africa and the Republic of Korea (ROK) continues to show an upward trajectory despite the challenges presented by COVID-19 and displays a positive trade balance.
“South Africa is proud to count on the government of the ROK and its private sector as partners in our efforts directed at the post-pandemic economic recovery,” International Relations and Cooperation Minister, Dr Naledi Pandor, said on Tuesday.
“In this regard, our President and his economic team, working closely with our ambassadors and missions abroad, have been working hard at advancing our trade and investment relations for mutual benefit across a broad range of economic activities.”
Pandor was speaking during her opening remarks on the Inaugural South Africa – Korea Joint Cooperation Commission (JCC) in Seoul.
The Minister said this year marks the 30th anniversary of South Africa and the ROK diplomatic relations, which were formally established on 1 December 1992.
“We wish to congratulate our two countries on this milestone and hope for better and stronger relations long after the 30th celebrations.”
She recalled the Korean War of 1950 to 1953 when the then South African Air Force (SAAA) was part of South Africa’s contribution to the United Nations Command with 826 locals who fought in Korea, with over 40 casualties.
“These fallen heroes are honoured at a section of the new Korean Cultural Centre in Brooklyn, Pretoria.”
Since then, SA has become the ROK’s largest trading partner in Africa while the ROK is South Africa’s fourth largest trading partner in Asia with 17 concluded bilateral agreements between the nations.
These range from air transport, protection of investments, avoidance of double taxation, science and technology, mutual legal assistance in criminal matters, extradition, information and communications technology, vocational training, and energy.
“Furthermore, holding this first JCC is indeed another milestone in our relationship,” she said.
“What stands out in particular over the last few years is the timely support of donations made during the height of COVID from the ROK to South Africa, the region and the continent. This material support at a time of need will never be forgotten.”
Pandor has called on the leadership to use this year’s 30th commemoration to come together and build new bridges of cooperation for the future.
“Our prosperity depends on the economic success of each other, while we move forward in solidarity as we forge a better future for our people.”
