Seychelles and Korea working to boost ties |07 July 2012

During their talks Minister Adam congratulated Korea for successfully hosting the Yeosu Expo 2012 and emphasised how the theme ‘The living ocean and coasts’ is extremely meaningful to the people of Seychelles given that, with an exclusive economic zone of 1.3 million square kilometres, the ocean is a way of life for the people.

The two ministers discussed increased cooperation, particularly in the field of renewable energy, where recognising the great advancements made by Korea, Minister Adam encouraged Korean companies to invest in Seychelles, with the support of the Korean government.

"It is clear that the Indian Ocean and the African continent need large scale renewable energy to reduce its dependence on fossil fuel and hence the effect of global shocks... Seychelles and Korea can create a model partnership in this sector," said Minister Adam.

Minister Adam also remarked that Korean companies may use investments in renewable energy in Seychelles as a means of proving the effectiveness of renewable energy in a small market and thus preparing the way for investments in larger markets. 

Being one of the largest global importers of oil, as well as a major refining country, Minister Kim expressed Korea's desire to explore the possibility for cooperation between Seychelles authorities and Korean oil companies in view of potential oil finds in Seychelles waters.

Minister Kim expressed satisfaction on the strong status of the relationship between the two countries, underlined by the high level exchanges between the two countries including the State visit by President James Michel in 2009 and his attendance at the Yeosu opening ceremony earlier this year.

The two sides agreed to start discussions on strengthening investment and trade partnerships through the conclusion of trade facilitation agreements such as a Double Taxation Avoidance Agreement (DTAA).

Given that the threat of piracy is a challenge commonly faced by the two countries, the two ministers also reaffirmed their commitment to assist and support each other in combating this scourge.

Minister Adam also extended an invitation to the Korean navy to visit Seychelles on ship visits to strengthen the protection of the Indian Ocean.

The two ministers also expressed appreciation for the level of cultural exchanges between the two countries, particularly the Korean traditional costume fashion show which will be hosted in Seychelles for the second time in October this year, the eco-healing marathon which is an initiative of the honorary consul general in Korea, with the participation of many Koreans, and the cooperation between the Seychelles Broadcasting Corporation (SBC) and the Korean Broadcasting Services (KBS).

Minister Adam was accompanied by Dong Chang Jeong, Seychelles honorary consul general in Korea, Christian Faure, second secretary in the embassy of Seychelles in Beijing and Julie Kim, STB’s regional manager in Korea.