Algeria and South Korea are celebrating on the 15th of January 2020 the 30th anniversary of the establishment of official relations and are since then committed to mutual understanding and collaborating in all fields, attached to regional and international peace and stability.
These relations developed continuously and led to the establishment on March 2006 to a strategic partnership. Trade exchanges and economic cooperation has reached an appreciable level, deemed to grow in the future.
Moreover, with regard to governance and economic management, the Algerian Government applied sound policies that improved the predictability and transparency, resulted in a significant growth outside hydrocarbons and strengthened the country’s external financial position. The economic diversification is considered as paramount through investment promotion, industrial policy, agriculture and rural renewal and the construction of infrastructures (public works, water resources, environment, and services).
South Korea proved to be one of the key partners of Algeria on the path of socioeconomic diversification and industrial growth.
The presence in Algeria on a permanent basis of more than 30 Korean companies besides representatives from different Korean institution an agencies is of a big importance and played a great role in the development, diversification and deepening of the economic ties in a large variety of sectors.
These companies are contributing efficiently in the realization of important projects in Algeria, such as, power plants, water resources and sanitation, building new cities.
At the political level, during the last years the two countries have developed a regular exchange of delegations and it is worth to mention presidential visits exchanged in 2003 and 2006. Both countries are maintaining on a regular basis, political consultations on many international and regional issues notably between the ministries of foreign affairs.
This political dialogue is an important tool for coordination and exchange of use in different regional and international governmental organizations.
Trade between the two countries reached in a very short time a volume of 3 billions of US dollars and for 2019 we are expecting, in spite of some financial difficulties due to the collapse of the oil and gas price for the last years, almost 2 billions dollars.
On the cultural field both countries are committed to develop the exchanges as well as people to people relations. Within this framework the relations with the concerned Korean agencies namely, Africa Foundation and Korea-Arab Society, are very fruitful and many cultural events are organized in both countries enabling people in both countries to get acquainted with each one’s culture.