Ambassador Highlights Surge in Qatar-Korea Trade to Over $17 Billion

Ambassador Highlights Surge in Qatar-Korea Trade to Over $17 Billion By Sruthi Nair - May 12, 2024
 Ambassador Joon Ho Lee of Korea to Qatar

Ambassador Joon-Ho Lee of Korea to Qatar

As Qatar and Korea commemorate their 50th anniversary of diplomatic relations this year, Ambassador Joon-Ho Lee of Korea to Qatar emphasized the pivotal role of economic cooperation, particularly in the energy and construction sectors.

Addressing a recent event showcasing Korea’s traditional music, Gugak, Ambassador Lee highlighted the remarkable growth in trade volume over the past five decades. He pointed out that trade volumes surged from a modest $4 million in 1974 to an impressive $17.1 billion in 2022, reflecting the robust economic partnership between the two countries. Ambassador Lee underscored Qatar’s significance as a key energy supplier to Korea and praised Korea’s involvement in over 130 significant construction projects in Qatar, which have contributed to the modern skyline of Doha.

"The Sheraton Resort and Convention Hotel in 1979 to the recent completion of the Lusail Highway are benchmarks of our cooperative ambitions," he noted.

Ambassador Lee also highlighted the frequent high-level visits between Qatar and Korea, including the recent visit of Korean President Yoon Suk Yeol last year. He emphasized that Qatar and Korea established a significant landmark in 2007 with a comprehensive partnership and stressed that "our relations were further enhanced last year, transitioning to a comprehensive strategic partnership."

The ambassador also touched upon the cultural aspects of both countries, stating, "Korea and Qatar are both cultural powerhouses. While preserving tradition, we have embraced modern trends to lead the global cultural market." He mentioned Korea’s K-Pop and Korean dramas' global popularity and Qatar's successful establishment as a hub of sports and culture.

In line with the anniversary celebrations, the "Korea Tourism, Culture & Medical Festival" was held at the Mall of Qatar over the weekend, attracting hundreds of attendees. The event featured K-Pop performances, Korean cuisine, and presentations on Korean tourism and medical services, with the participation of 35 entities ranging from travel agencies to medical tourism providers.

Hakju Lee, Executive Vice President of the Korea Tourism Organisation (KTO), highlighted the event’s goal to strengthen tourism exchanges between Qatar and Korea, showcasing the diverse attractions of Korean tourism under the theme "Korea Tourism, All in One."

Lee noted a significant resurgence in Qatari inbound tourism to South Korea, with visitor numbers surpassing pre-pandemic levels. He cited a 43% increase in visitors from Qatar in 2022 compared to pre-pandemic levels, reaching approximately 87% of the demand seen in 2019, indicating a rapid rebound in the Qatari inbound market.

"This figure significantly exceeds the overall recovery rate of 63% for inbound tourism in 2023, indicating a rapid rebound in the Qatari inbound market," he concluded.


Source: The peninsula Qatar

By Sruthi Nair - May 12, 2024
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