Kathmandu: The Embassy of South Korea organized a knowledge-sharing program in collaboration with the newly established Nepal-Korea Business Entrepreneurs’ Association (NKBEA) on April 8. This program was done as part of an effort to continue strengthening bilateral relations between Nepal and Korea, with a growing emphasis on economic cooperation.
Park Taeyoung, Ambassador of South Korea to Nepal, has consistently highlighted the success stories of Nepali workers returning from South Korea, recognizing them as key drivers of Nepal’s economic development. He emphasized that the Employment Permit System (EPS) should be viewed not merely as a labor initiative, but as a “partnership for human development,” enabling workers to acquire skills, earn income, and return home with the capacity to launch entrepreneurial ventures.
Ambassador Park also underscored the significance of initiatives such as the “K-Hami” project and programs supported by KOICA which offers entrepreneurship training, mentoring, and increasing access to concessional startup loans for returnees.
Prem Kumar Gurung, President of NKBEA, highlighted the longstanding labor and cultural ties between Nepal and Korea. He noted that the establishment of the Association aims to deepen these ties by fostering meaningful, mutually beneficial, and sustainable partnerships in entrepreneurship, investment, and production. The core objective of NKBEA is to generate employment opportunities by leveraging the skills, experience, and capital of Nepali returnees from South Korea, while also attracting Korean investment into Nepal. The Association seeks to facilitate investment by providing necessary support services, and expand trade and partnership between the two countries.
NKBEA plans to implement a range of initiatives, including organizing a Nepal-Korea Business Fair, developing a centralized business database, and conducting capacity-building training programs. These efforts will focus on expanding networks for Nepali entrepreneurs, as well as supporting product branding and market development.
Additionally, the association intends to collaborate with relevant stakeholders to promote joint investment programs across key sectors such as agriculture, tourism, manufacturing, energy, construction, and information technology. It also aims to establish a one-stop support system for Korean investors in Nepal.
The association has formally requested continued cooperation from the Embassy in areas such as building networks with Korean investors, promoting bilateral trade and investment, facilitating technology transfer, and supporting startup development programs for Nepali entrepreneurs.
