South Korean ambassadors to Cameroon, D.R. Congo and Nigeria said that the continent of Africa is "the last market" for South Korea to reach out to, thanks to its wealth of energy and natural resources.
In an interview with Yonhap News Agency Thursday during their stay here for an annual meeting of overseas missions' chiefs, the envoys said South Korea should increase its energy cooperation with Africa and encourage its companies to enter the African market.
"Cameroon is more than double the size of the Korean Peninsula and it has largely undeveloped reserves of crude oil, natural gas and iron ore," said Lee Ho-sung, South Korea's ambassador to Cameroon. "It's also politically stable and thus offers good conditions for investments. If we can take advantage of our strengths, then we can definitely succeed in Africa."

Lee said the South Korean government and its corporations must carefully map out investment strategies because Cameroon is keen on learning from South Korea's development experience.
"Our government is seeking a 'win-win' solution where we will acquire natural resources and offer development assistance," the envoy said. "To commemorate the 50th anniversary of the two countries' diplomatic ties this year, our embassy in Cameroon is planning a series of cultural events, too."
Kim Sung-chul, ambassador to D.R. Congo, said the country has "tremendous development potential" because of its minerals and geopolitical location.
"South Korea and D.R. Congo are in talks over projects on building ports, dams and roads, and we're expecting some concrete progress soon," Kim said. "Our embassy is trying to find out what Congo needs in terms of infrastructure."
Kim argued that South Korean firms shouldn't simply try to make money from their investment into the African nation but also help the country get back on its feet.
"When assisting African nations economically, I think we've separated ourselves from others with our sincerity," Kim said. "I feel that this has created an amicable atmosphere for our companies to enter the Congo market. They should take a long-term view on Congo."
Nigeria is another country that tries to learn from South Korea, said Amb. Park Young-kuk, especially after South Korea hosted the Group of 20 Summit last fall.
"Nigeria sees South Korea as a close cooperation partner," Park said. "They want more South Korean builders to come and they also want to learn automaking technology."
Nigeria is a large, populous country with a wealth of oil and natural gas, Park noted, but it still needs to shore up its infrastructure.
"South Korea has been building schools, hospitals and job training centers in Nigeria," the envoy said. "Nigeria is too far for some companies and it's not easy to make profits there. But if more companies do make the trip, then political ties between the two countries would also deepen."
Park said the South Korean embassy in Nigeria opened the first Korean cultural center in Africa last year and it will expand cultural cooperation between the countries, too.