By Ebi Kesiena
In a significant development, numerous Korean firms are keenly eyeing opportunities for investment in Kenya, taking advantage of the country’s ongoing technological advancements.
According to the Korea Trade Development Agency (KOTRA), three Korean companies have formalized their interest by signing Memorandums of Understanding (MoUs) with Kenyan counterparts.
Korea GT inked an MoU with SONVAR Chemicals, while POQUTEC established a partnership with Regal Equipment. Additionally, SJ Chemical entered into a collaboration with two Kenyan entities, namely Business Enterprises (PABE) and Kleos Flooring.
These three enterprises are part of a larger cohort of fifteen companies participating in the Korean Pavilion, all aiming to fortify business connections with their Kenyan counterparts.
KOTRA head Eom Ikhyun speaking on the new development on Thursday, emphasized the commitment of these Korean companies to contribute to Kenya’s vision of becoming the digital and ICT hub of East Africa.
“The companies have brought forth technologies that are the building blocks of the smart, sustainable cities of tomorrow.”
This announcement was made during the unveiling of the Korean Pavilion at the 2023 BIG 5 Construction Roadshow in Kenya.
The technologies introduced by Korean companies encompass smart construction supervision systems, energy management systems, traffic safety systems, and water purification systems, all of which play pivotal roles in realizing sustainable development in smart city construction projects.
Notably, these technological advancements are set to be applied to Kenya’s KONZA Technopolis, showcasing superior standards for smart cities across all African regions.
However, this surge of Korean interest in Kenya aligns with a longstanding collaboration between the Korean and Kenyan governments in the digital and ICT sectors since 2008.
Also, the Korean government is laying the groundwork for Kenya’s Konza Smart City Development project through the Economic Development Experience Sharing Project (KSP) and the Economic Innovation Partnership Program (EIPP) and continues business cooperation by operating a smart city cooperation centre.
