Seoul [South Korea], October 18 (ANI/Global Economic): The Korea International Cooperation Agency (KOICA) announced on October 15 that it has signed an MOU agreement with Colombia's Ministry of Commerce, Industry and Tourism to help establish a foundation to promote shipbuilding industry.
The Colombian government has selected the shipbuilding industry as one of the core national industries and is making effort to promote it, but it is slow to enter the steel ship business, which creates high added value.
Under the agreement, KOICA will invest USD 5 million (about 5.9 billion won) by 2024 to establish a mid-to-long-term development plan for the Colombian shipbuilding industry and will invite Colombian officials and Design and production workers to Korea for training.
In order to foster shipbuilding technology, it will prepare laboratories at Columbia's national training centres and also support training equipment and instructors.
At the signing ceremony held at the government complex in the Colombian capital of Bogota, Korean Ambassador to Colombia Choo Jong-Yeon, KOICA country director Kim Hyun-Geun, Colombian Minister of Commerce, Industry and Tourism Maria Ximena Lombana, Colombian Minister of Production Camilo Fernandez de Soto, and Columbian APC director Viviana Manrique attended. (ANI/Global Economic)