The opening of a mission in South Korea will position Zambia to learn from one of the most advanced economies in the world and facilitate the transfer of technology, skills and knowledge in different sectors including electronics, manufacturing and telecommunications.
And Samsung Electronics country manager for Zambia James Chona has congratulated Mumba Kapumpa on his recent appointment as Ambassador to South Korea, noting that the appointment underlines the importance that the Zambian government has placed on ties with one of the world’s diversified economies.
“The opening of a mission in South Korea is welcome news as it will foster bilateral and economic ties between the two countries. While direct investment has come through with firms like Samsung Electronics, formal ties between Zambia and South Korea will open up opportunities for diversified investment into the country.”
Chona added that South Korea’s diversified economy would provide Zambia with a learning curve on how the country has in the last four decades registered incredible growth to become a high-tech industrialized economy.
“The obvious expectation is for investment into Zambia to increase but there are also opportunities to learn from South Korea on how it has developed its economy without having significant natural resources. We can see this in how, for instance, Samsung has grown to become a major global firm with diversified interests in electronics, medical devices, semiconductors and construction.”
Chona said as one of South Korea’s largest firms, Samsung employs 270,000 people across 79 countries with annual sales of US$187.8 billion. He noted that Samsung has operated in Zambia over the last three years and the firm is delighted to see ties cemented between the two countries.
“This is also an opportunity for South Korean businesses to expand their investments and tap into the many opportunities within the Zambian economy. We wish Ambassador Kapumpa success in South Korea and remain committed to supporting efforts to strengthen ties between the two countries.”
Issued by: KPR Consulting
On behalf of: Samsung Electronics