Papua New Guinea's Minister for International Trade and Investment Richard Maru, together with his small trade delegation, visited Jeonbuk State yesterday as part of his mission to meet potential Korean investors on the margins of the APEC Ministerial Meeting (AMM).
During the visit, Minister Maru met with the Governor, Hon. Kim Kwan-young, to discuss opportunities for cooperation between Jeonbuk State and Papua New Guinea (PNG), particularly in the agriculture sector.
Jeonbuk State is widely recognised as the “agriculture state” of South Korea due to its role as a major agricultural producer, its fertile plains, and its position as a centre for agricultural research and development. The state is a leading producer of crops such as rice and barley, and is home to key national research institutions and major agri-food companies.
Minister Maru told the Governor that PNG and Korea needed to deepen their relationship, which had not been fully developed over the past 49 years.
“We celebrate 50 years of bilateral relationship between our two countries next year, and it would make sense for us to celebrate some major announcements or projects as we go into new 50 years. We want to see Korea investing in PNG and providing technical assistance and development aid to increase its visibility in PNG,” Maru said.
Governor Kim Kwan-young, in response, said Jeonbuk State was keen to contribute to the sustainable agricultural development of PNG, specifically in infrastructure and technological capabilities. He also expressed hope to expand cooperation into various fields such as education, culture and sports.
Minister Maru and his delegation later visited a soybean farm and met with the President of the Korean Soybean Self-help Corporation, Su Yong Jang. They also toured the state-of-the-art chicken processing facility of Harim Holdings Co. Ltd, a dominant force in Korea’s poultry industry and the nation’s largest producer of chicken.
“The Soybean Self-help Corporation is keen on training Papua New Guineans in commercial soybean farming and Harim Holdings Co. Ltd indicated their keen interest in exploring the opportunity of investing in PNG,” said Maru. “Both companies said that in order for them to invest in PNG, they will need the support of the Korean Government through the Korea International Cooperation Agency (KOICA).
“This is timely with the recent announcement of KOICA opening an office in PNG which will encourage Korean companies to invest in PNG across various sectors and the Korean Government providing development assistance in aid and technical cooperation through KOICA. I am grateful that Korea is now stepping up to deepen the relationship as we look forward to celebrating 50 years of bilateral relationship between PNG and Korea next year," he said.
