Seoul, South Korea – Ethiopia is emerging as a promising destination for overseas investment in the textile and apparel sectors. The Ethiopian government recently hosted an investment forum in Seoul to attract Korean businesses and showcase the country's potential.
The forum, held at the Korea Federation of Banks building in Myeongdong, was attended by over 200 participants. It featured presentations on Ethiopia's investment environment, incentives and support for foreign investors, and success stories in key industries.
A key figure at the forum was Cha David, chairman of the Ethiopia Bet (House) Foundation, who played a crucial role in strengthening ties between Chuncheon and Ethiopia during Ethiopian Prime Minister Abiy Ahmed Ali's visit to Chuncheon in June 2024.
The Ethiopia Bet (House) Foundation has been instrumental in promoting cultural exchange and cooperation between the two countries. It operates the Ethiopia Bet coffee shop, which has been serving Ethiopian coffee in Chuncheon since 1968. The foundation also organized the 13th Meskal Festival in Chuncheon in October 2023 to celebrate the 60th anniversary of diplomatic relations between Korea and Ethiopia.
Cha David emphasized the importance of the forum in providing Korean businesses with opportunities in Ethiopia's rapidly growing economy. He highlighted the country's strong economic growth, which is projected to reach 8.5% in 2025, and its strategic location as a hub for trade in Africa.
Ethiopia's rich history and its role in the Korean War also resonated with attendees. Ethiopia was the only African country to send troops to support South Korea during the war, and the sacrifices made by Ethiopian soldiers are still remembered today.
The investment forum served as a platform for Korean and Ethiopian businesses to explore potential partnerships and investment opportunities. It also underscored the growing economic and cultural ties between the two nations.
[Copyright (c) Global Economic Times. All Rights Reserved.]
