KATHMANDU, April 9: In a move aimed at boosting economic cooperation, the Nepal-Korea Business Entrepreneurs’ Association (NKBEA) has been established to strengthen trade, investment, and entrepreneurial links between Nepal and South Korea, according to a press statement issued by the Embassy of the Republic of Korea in Nepal.
Marking the launch, the embassy, in collaboration with the new association, organized a knowledge-sharing program on April 8, bringing together stakeholders to explore new avenues of partnership.
Speaking at the event, South Korean Ambassador Park Tae-Young highlighted the growing role of Nepali returnees from South Korea as drivers of economic change. He described the Employment Permit System (EPS) as a “partnership for human development,” enabling workers to gain skills abroad and return home with the capacity to build businesses.
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The ambassador also pointed to initiatives such as the “K-Hami” project and programs supported by KOICA, which offer entrepreneurship training, mentoring, and access to concessional startup loans.
NKBEA President Prem Kumar Gurung said the association aims to transform long-standing labor ties into broader economic partnerships by promoting investment, production, and entrepreneurship. He noted that the organization will focus on creating jobs by leveraging the skills and capital of returnee workers while attracting Korean investment into Nepal, the statement reads.
Looking ahead, the association plans to organize a Nepal-Korea Business Fair, build a centralized business database, and run capacity-building programs to expand networks and market access for Nepali entrepreneurs.
It also aims to facilitate joint investments in sectors such as agriculture, tourism, manufacturing, energy, construction, and information technology, while working toward a one-stop support system for Korean investors in Nepal.
NKBEA has called for continued cooperation from the Korean Embassy to strengthen investor networks, promote technology transfer, and support startup development in Nepal.
