SEOUL, KOREA - Jim Yong Kim, president of the World Bank, said, "Korean companies must look for new opportunities in Africa where growth potential is unlimited." That's because, he added, many African nations are benchmarking the Korean development model and thus it is very advantageous for Korean corporations to move in and do business there.

 

 

Dr. Kim visited Korea on December 3 to attend the launch ceremonies for the World Bank and Global Climate Fund offices in Songdo's International Business District, Incheon. He said this in a press conference held at the Grand Hyatt Seoul on the same day. He further said, "Korea's development model appeals more to African leaders than those of China or Japan."

 

"Even though there are huge opportunities present in the continent, so many Korean companies underestimate these. Despite the worldwide recession, the African economy as a whole is making a 5-percent annual growth for years. Korean companies should no longer wait and see and plunge into the race," he said.

 

To young men and women of Korea, he said, "You must have the feeling of responsibility as members of the global community. You need to change your attitude to look outward much more than before."