1. Foreign Minister Yun Byung-se met on July 24 with his Nicaraguan counterpart Samuel Santos, who is making an official visit to the Republic of Korea on July 23-26. They discussed ways to enhance substantive cooperation between the two countries in a range of areas, including politics, economy, trade, development, and infrastructure, as well as on the global stage.

2. Minister Yun noted with appreciation that the ROK and Nicaragua have steadily developed friendly and cooperative relations since the establishment of diplomatic relations in 1962 and that bilateral cooperation is expanding rapidly to a wide range of areas, including development, information technology (IT) and infrastructure.

o Minister Yun welcomed the Nicaraguan government’s decision last year to reopen its Embassy in the ROK, saying that it is a meaningful step which strengthens the foundation for improving bilateral relations. Minister Yun also hoped that the two countries will closely cooperate to expand mutually-beneficial cooperation between them.

3. Stating that Nicaragua considers the ROK a national development model for the country, Minister Santos expressed hope that the two countries will not only share the ROK’s development experience, but also expand substantive cooperation in various areas, including IT and infrastructure.

o In particular, Minister Santos explained in detail the Nicaragua Grand Canal Project which his government is pursuing and requested the ROK government and companies’ much interest in the Project.

4. Minister Yun hoped that globally-recognized Korean companies with advanced technologies and abundant experience will participate in large-scale national infrastructure projects launched by the Nicaraguan government, thereby contributing to infrastructure development in Nicaragua.

5. Minister Yun welcomed Nicaragua’s hosting of a Central American IT training center, co-funded by the ROK and the inter-American Development Bank (IDB). The Minister also offered to closely cooperate in the IT sector so that concrete and tangible results can be achieved in the bilateral cooperation.

o In response, Minister Santos stated that Nicaragua’s hosting of the training center is a representative case that shows progress made in substantive cooperation between the two countries and hoped that such cooperation will also increase in other areas.

6. In addition, Minister Yun requested special interest and support to ensure Korean companies’ smooth business operations in Nicaragua. Minister Santos spoke highly of the contribution to the Nicaraguan economy that Korean companies in Nicaragua are making and promised interest and support for the companies.

7. Nicaragua is the ROK’s key cooperation partner in Central America, which has great potential for cooperation with the ROK in a range of areas. The substantive cooperation between the ROK and Nicaragua is rapidly expanding, mainly in development, infrastructure and IT.

8. Minister Santos’ official visit to the ROK marks the first of its kind by a Nicaraguan Foreign Minister in 20 years. The Foreign Ministers’ Meeting is seen as having reaffirmed the existing friendly and cooperative relations between the two countries and laid the groundwork for expanding and developing bilateral cooperation in areas with big potential for mutually-beneficial cooperation, including information and communications and infrastructure.

o Minister Santos’ visit to the ROK, together with the reopening of the Nicaraguan Embassy in the ROK in the second half of this year, is expected to serve as an opportunity to further strengthen the foundation for promoting bilateral cooperation in a range of areas. 


                                             Spokesperson and Deputy Minister for Public Relations of MOFA

*unofficial translation