Korea to increase cooperation grant, workers’ quota

By A Staff Reporter,Kathmandu, May 9: Ambassador of the Republic of Korea to Nepal Park Tae-Young has said that the roadmap of the areas of cooperation between Nepal and Korea will be prepared by targeting the next 50 years.

Speaking at a press conference organised on the occasion of the 50th year of Nepal-Korea bilateral relations between Nepal and Korea at the Ambassador’s residence on Wednesday, he said that the governments of Korea and Nepal would move ahead to strengthen cooperation between the two countries for the next 50 years by analysing the achievements made till now.

Since the establishment of diplomatic relations on May 15, 1974, the two countries have been enjoying cordial and progressive relations with tremendous growth in various fields, including economic and social fronts over the years. 

The Republic of Korea has  been supporting Nepal, especially in the health, education, agriculture and good governance sectors. 

Ambassador Park reflected on the longstanding friendship between Korea and Nepal, highlighting the consistent growth in cooperation across various sectors since the establishment of the diplomatic relations. 

This year marks the 50th anniversary of diplomatic relations between the two countries. 

He also said that the Korean government was going to increase the quota for Nepali workers in Korea under the Employment Permit System (EPS). He also disclosed that Nepali workers would be recruited in the service sectors in Korea.  

Currently, Nepali workers are selected for agricultural and manufacturing jobs in Korea under EPS.

Around 44,000 Nepali workers are currently working in Korea under the EPS. Since the EPS agreement signed with Nepal in 2007, about 100,000 Nepali youth got employment in South Korea.

“South Korea has been allowing workers from 16 countries including Nepal under the EPS programme. Out of them, Nepal supplies the largest number of manpower,” he said. 

The government of Korea has set a quota of 20,000 for  Nepalis under the EPS in 2024.

Likewise, as of March 2023, 6,497 Nepali students are pursuing higher studies in Korea. Nepal ranks 5th in terms of number of international students in Korea.

Ambassador Park said that compared to other countries, the support provided by the government of Republic of Korea to Nepal is exemplary.

Likewise, Mooheon Kong, Country Director of the Korea International Cooperation Agency (KOICA) Nepal Office, briefed about the cooperation provided by KOICA in the development of Nepal.

He said that KOICA is supporting Nepal in the fields of education, health, agriculture, good governance and entrepreneurship.

Korea has provided USD 282.4 million to Nepal in the areas of health, water and sanitation, education, rural development and energy since 1987 to 2022, he said. 

The trade volume between Korea and Nepal has significantly increased from USD 0.1 million in 1970 to USD 37 million in 2023. 

Mooheon said that KOICA was increasing its grants in agriculture, health and entrepreneurship in order to achieve the goal of the Nepal government to become a middle-income country by 2030. 

He said that KOICA has been providing support of around USD 10 million over the years and has a target to provide USD 14 million this year.

The KOICA has also operated the K-Hami Project in Nepal.

The K-Hami Project of KOICA aims to strengthen the stage-wise support system for the stable reintegration of Korea Returnee Migrants in Nepal.