Following his three-day visit to Korea, President William Ruto signed several Memorandum of Understanding (MoU) with the foreign country set to benefit Kenyans.
Some of the MoUs between the Kenya Chamber of Commerce and the Korean Institute of Procurement covered animal feed production, access to cheaper fertiliser, and local manufacturing companies for health equipment.
"Kenya is keen on expanding economic ties with the East Asian nation and exploring areas of the corporation," Ruto stated on Tuesday, November 22.
In line with the Sustainable Development Goals (SDGs), the two countries agreed to boost job exchanges, support innovation, and a creative economy, and improve Kenyan access to Korean scholarships.
On his first day, Ruto also met the speaker of Korea and the Chairman of the Trade, Industry, Energy, SMEs, and Start-ups Committee.
The Korean Speaker agreed that the current 40 per cent tariff on agricultural products was too high and pledged to engage the Ministry after Ruto pushed for reductions to ensure better returns for Kenya.
Additionally, Korea vowed to guarantee Kenya benefits from a Ksh 12.1 trillion ($100b) fund set aside for Africa.
The trip aimed to market Kenya as a suitable investment destination for foreign investors and open job opportunities for tech-savvy youth in both countries.
“My presence here is to confront you of Kenya’s readiness to engage, to work together. I am here to underwrite the opportunities that you can have in Kenya and are available in our continent,” Ruto stated.
Ruto is also expected to engage in bilateral talks with his counterpart President Yoon Suk Yeol, before leaving the country.
The President was accompanied by Cabinet Secretaries, Alfred Mutua (Foreign Affairs), Moses Kuria (Trade) Eliud Owalo (ICT), and other dignitaries.
Mutua urged Kenyans living in Korea to horn their skills before flying back home to help rebuild the economy.
"We are seeking to have more Kenyans work here in Korea," Mutua stated.
“Why would you leave Korea with a good job to come to Kenya? The economy of Kenya is on a slowdown, there is hardly any employment in Kenya,” Mutua warned.
