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Bilateral Business expresses confidence in Samsung’s investment in South Africa

JOHANNESBURG, South Africa – 11 November 2022 – Business Unity South Africa (BUSA), the Korea Chamber of Commerce and Industry (KCCI) and the Embassy of the Republic of Korea jointly hosted the Business Forum and Nuclear Cooperation Seminar at the Sandton Convention Centre, Johannesburg.

The session, which was attended by a high-level delegation including government and business leaders from both South Africa and South Korea, was to explore opportunities and possible collaborations in areas such as the Fourth Industrial Revolution (4IR), Nuclear and Hydrogen Energy.

The hosting of the seminar comes as the Republic of South Africa and the Republic of Korea are set to mark the 30th anniversary of diplomatic relations on December 1, 2022. South Africa is South Korea’s biggest trade partner in Africa and South Korea is the fourth biggest trade partner for South Africa in Asia. Over the last three decades, the two countries have made significant strides in diverse fields including political, economic and cultural areas. Furthermore, exchanges of top level visits as well as bilateral cooperation have increased between the two countries, including more recently in nuclear and agricultural sectors.

While exploring potential ways of mutually beneficial relations and areas to be further expanded between the two countries, an acknowledgement was made regarding the successes made to date, particularly of Korean companies in South Africa. Samsung, being one of them, is in a prime position to make a meaningful contribution specifically in 4IR as a business that wants to use technology to create a better global society.

“The contribution that we, as a South African corporate citizen, are making towards the economy of the country is something we are immensely proud of and that we wish to continue for many years to come. We look forward to using our products and services to help the country make its own mark in the technology-driven industrial revolution,” said Hlubi Shivanda, Samsung’s Director: Business Operations and Innovation & Corporate Affairs.

The South Korean Ambassador, His Excellency Chull-joo Park and KCCI’s Executive Vice Chairman, Mr. Taehee Woo used the occasion to implore BUSA and the South African government to support South Korea’s bid to host the World Expo in Busan in 2030. They both pointed out that South Africa, as a partner, is key in providing support for the expo.

In his keynote address, the Department of Trade, Industry and Competition’s Deputy Director-General, Mr. Yunus Hoosen, gave tribute to South Korean companies like Samsung for their investment and their success in South Africa. He further called for other Korean companies to emulate the likes of Samsung by establishing operations in South Africa and said there is visible evidence through Samsung ‘s presence in the country that it is an investment destination of choice.