South Korea finances government telecommunications network in Angola

15 October 2007

Luanda, Angola, 15 Oct – south Korea is to finance the construction of a government telecommunications network in Angola, a project which is estimated to cost US$35 million under the terms of an agreement signed Friday in Luanda.

The agreement was signed by the deputy foreign relations minister, Irene Neto, and South Korean ambassador to Angola, Kim Kyun Seop.

Speaking to the press, after signing the document, Neto said that the Angolan government was working to modernize the country, via use of loans and direct investment.

Kim Kyun Seop noted that his government would continue to support development projects in Angola.

In Angola, South Korea is represented by the Daewoo, Samsung and Hyundai groups. (macauhub)