BILATERAL RELATIONS

Nepal-Republic of Korea Relations

Bilateral

Diplomatic relations between Nepal and the Republic of Korea were established in Counselor level in 1969 and was upgraded to Ambassadorial level in 1974. The Republic of Korea opened its Embassy in Kathmandu in 1974. The Government of Nepal has established its Embassy in Seoul in March 2007.

General and Political

  • Diplomatic relations between Nepal and the Republic of Korea (RoK) was established in 1974. Embassy of the RoK was established in Kathmandu in 1974 while Nepal established its embassy in Seoul in 2007.
  • 50th Anniversary of Diplomatic relations between Nepal and the Republic of Korea is being celebrated with the tagline ‘Everesting Friendship: Nepal-Korea 50th Anniversary’ this year (2024).
  • About 70,000 Nepalis are living and working in the RoK as of now. (About 47000 via EPS system, about 5500 as students and about 18000 others)
  • Nepal-RoK Bilateral Consultation Mechanism (BCM) at the level of Joint Secretary of the Ministry of Foreign Affairs was established in 2001. Sixth BCM was held in Seoul on 14 April 2023. The Seventh BCM was proposed for April 2024 in Kathmandu, however, it remains pending as the response from the Korean side is still awaited.
  • The First Summit-level Meeting was held in 49 years between Rt. Hon. Prime Minister Mr. Pushpa Kamal Dahal ‘Prachanda’ and President of the Republic of Korea H.E. Mr. Yoon Suk Yeol on ths sidelines of the UN General Assembly in New York in 2023
  • The Korean side extended an invitation to the Prime Minister of Nepal on 20 October 2023 to visit Korea along with the support for World Expo elections
  • In regard to the Korean peninsula, Nepal has its long standing position stressing on the peaceful reunification
  • Nepal received USD 300,000 as assistance from the RoK for the rescue/recovery of earthquake victims in the western part of Nepal in November 2023

Trade and Investment

  • Trade volume between the two countries is increasing but there is a huge trade deficit – export worth 302 million NRs and import worth 7040 million NRs. The import is about 24 times more than the export (As of FY2022/23)
  • The FDI from the RoK is being increased – NRs. 12 Arba 96 Crores in 2080/81 (Till 2081 Jestha) and Total Foreign Investment about NRs. 26 Arba 2 Crores

Tourism

  • Around 24000 tourists from the RoK visited Nepal in 2023, while around 13000 tourists from the RoK visited Nepal in the first half of 2024.

Major Ongoing Programmes and Activities

  • Nepal-Korea 50th anniversary of establishment of diplomatic ties is being celebrated this year (2024) : Common Commemorative Logo – “Everesting Friendship: Nepal-Korea 50th Anniversary”
  • Samsung’s Factory for producing Television sets was established in Nawalparasi in August 2022. The production work has commenced in April 2023.
  • Hyundai Motors and Laxmi Groups have started partnership in assembling automobiles in Nawalparasi producing annual 4800 automobiles. The factory was launched in May 2024.
  • Employment Permit System (EPS): The recruitment of Nepali workers was started since 2007. Additional 1900 quota was added to Manufacturing sector in 2024 making the total number 16300. Shipbuilding and Service sectors were added in 2024. Nepal ranks the first among 16 EPS Partner Countries

Latest MoUs

  • MoU on Cooperation in the field of Agriculture – MoU was Signed on 2nd November 2023 during the visit of Korean Agriculture Minister to Nepal, and
  • MoU on Establishing a Framework on Trade and Investment Promotion was signed on 19 December 2024 between the Government of Nepal and the Government of the Republic of Korea.

Recent visits

(From/To RoK)

S.N. Dignitary Dates Incoming/Outgoing Remarks
1. Mr. Lee Sangheon,

President of Korea-Nepal Parliamentary Friendship Group

 19 to 22 August 2022 Incoming Delegation comprising 4 members of the National Assembly of Korea
2. Mr. Hark Kyu Park,

Global President and Chief Financial Officer of Samsung Electronics Co.

 24 August 2022 Incoming Courtesy call on Prime Minister Mr. Sher Bahadur Deuba
3. Mr. Chung Hwang-keun, Minister for Agriculture, Food and Rural Affairs 01-03 November 2023 Incoming MoU on Cooperation in the Field of Agriculture signed.
4. Mr. Jeong Marn-ki, Executive Vice Chairman of Korea International Trade Association 08 November 2023 Incoming Courtesy calls on Hon. Foreign Minister and Minister for Industry, Commerce and Supplies
5. Mr. Sang-heon Lee, Chairperson of Culture, Sports and Tourism Committee of the National Assembly and President of Nepal-Korea Parliamentary Friendship Group 16 April 2024 Incoming Courtesy calls on various high-level dignitaries of Nepal including Chairperson of National Assembly Mr. Narayan Prasad Dahal; Minister for Labour, Employment 6.and Social Security Mr. Dol Prasad Aryal; and Minister for Youth and Sports Mr. Biraj Bhakta Shrestha.
6. Mr. Biraj Bhakta Shrestha, Minister of Youth and Sports 28 June-03 July 2024 Outgoing Attended 2024 Invitation Program for Eminent South Asian Dignitaries

Key Highlights

  • 50th Anniversary of Diplomatic Relations: Celebrated in 2024 under the tagline “Everesting Friendship: Nepal-Korea 50th Anniversary”.
  • People-to-People Connection: Around 70,000 Nepalis reside in Korea, including workers, students, and others.
  • Bilateral Consultation Mechanism (BCM): Initiated in 2001, the 6th BCM was held in April 2023, with the 7th proposed for 2024 in Kathmandu.
  • High-Level Engagements: The first summit meeting between Nepali Prime Minister Rt. Hon. Pushpa Kamal Dahal and Korean President H.E. Yoon Suk Yeol took place in 2023 during the UN General Assembly.

Trade and Investment

  • Trade Deficit: Nepal’s exports to Korea totaled NPR 302 million, while imports reached NPR 7.04 billion in FY 2022/23.
  • Foreign Direct Investment (FDI): Korean FDI in Nepal reached NPR 12.96 billion in FY 2080/81, with a total FDI of NPR 26.02 billion.

Tourism

In 2023, around 24,000 Korean tourists visited Nepal, and 13,000 visited in the first half of 2024.

Major Programs and Agreements

  • Employment Permit System (EPS): Since 2007, over 47,000 Nepali workers have participated, with additional quotas added in 2024.
  • Commemorative Projects: Hyundai and Samsung launched factories in Nawalparasi, with automobile and television production commencing in 2024 and 2023, respectively.

Recent MoUs

  • Agriculture: Signed in November 2023 during the Korean Agriculture Minister’s visit to Nepal.
  • Trade and Investment: Signed in December 2024 during the Nepal-Korea Business Forum.
  • FNCCI-KOIMA Cooperation: MoU signed during the Golden Jubilee celebrations in December 2024.

Recent Visits

  • High-level visits included exchanges by ministers, parliamentarians, and officials from both nations. Key visits in 2023 and 2024 advanced trade, agriculture, and cultural cooperation.

Nepal remains committed to strengthening ties with Korea, emphasizing shared values and mutual growth.

Major visits

There have been exchanges of visits in different level between Nepal and the Republic of Korea over the time. Those visits have been instrumental in enhancing the bilateral cooperation as well as in widening the understanding between the people of the both countries.

From the Nepalese side,

  • Dr. Rajan Bhattarai, Foreign Advisor to the Prime Minister of Nepal, visited the Republic of Korea from December 17 to 20, 2019 as an eminent guest of the Ministry of Foreign Affairs of the Republic of Korea.
  • Hon. Mrs. Shashikala Dahal, Vice Chair of the National Assembly, Federal Parliament of Nepal visited the Republic of Korea from December 9 to 13, 2019 to participate in Asia Pacific Parliamentarians’ Meeting on Environment and Development.
  • Rt. Honourable Mr. Ganesh Prasad Timilsina, Chairman of the National Assembly, Federal Parliament of Nepal paid an official visit to the Republic of Korea from September 3 to 6, 2019.
  • Mr. Bishnu Paudel, General Secretary of the ruling Nepal Communist Party and former Minister of Finance of the Government of Nepal visited RoK from 25-28 June 2019 ,as an eminent guest, at the invitation of the Ministry of Foreign Affairs of RoK .
  • Hon. Gokul Prasad Baskota, Minister for Communication, Information & Technology, visited Korea on 12 September 2018 to participate in the ICT Ministerial Meeting of Asia Pacific Region.
  • Hon. Giriraj Mani Pokhrel, Minister for Education, Science & Technology, visited Korea from November 14 to 18, 2018 to participate in the “2018 Global ICT Leadership Forum” held in Seoul.
  • The Chief of Army Staff of the Nepal Army General Rajendra Chetri visited RoK from 8 – 11 September 2016 to participate in ‘the Defense Expo Korea 2016’ held in Seoul.
  • Hon. Janardan Sharma, Minister of Energy of the Government of Nepal, visited Korea in March 2017 to inaugurate Investment Program organized by the Embassy of Nepal under the theme ‘Investment for Nepal’s Energy Development from Korea’.
  • The Foreign Secretary H.E. Shanker Das Bairagi made an official visit to Korea from 07 – 10 June 2016 and held talks with his counterpart. This visit was a part of regular interaction between two sides.
  • Hon. Dr. Narayan Khadka, Minister for Physical Planning and Urban Development visited Korea from November 2 to 6, 2014 to participate in the 5th Asia-Pacific Ministerial Conference on Housing and Urban Development.
  • Hon. Dr. Minendra Prasad Rijal, Minister for Information and Communication visited Korea from October 18 to 24, 2014 to participate in the ITU Plenipotentiary Conference (PP-14)-2014 in Busan.
  • Hon. Mahendra Bahadur Pandey, Minister for Foreign Affairs of the Government of Nepal paid an official visit of the Republic of Korea from May 12 to 16, 2014 to mark the special occasion of celebrating the 40th anniversary of the establishment of diplomatic relationship between Nepal and the Republic of Korea.
  • Hon. Hridayesh Tripathi, Minister for Physical Planning, Works and Transportation of the Government of Nepal paid an official visit of the Republic of Korea from August 20 to 24, 2012 at the invitation of His Excellency Mr. Kwon, Do-youp, Minister of Land, Transport and Marine Affairs of the Government of the Republic of Korea.
  • Finance Minister Mr. Barsha Man Pun visited South Korea from November 29 to December 1, 2011 to take part in the fourth High Level Forum on Aid Effectiveness.
  • Hon. Mr. Krishna Lal Thakali, Minister for General Administration visited the Republic of Korea to participate in the 6th Global Forum on Reinventing Government, which was held in Seoul from May 24 to 27, 2005.
  • Mr. Raghuji Pant, the then Minister for Labor and Transport Management, visited the Republic of Korea leading a Nepalese delegation from October 16 to 22, 2004.
  • Former Prime Minister Mr. Lokendra Bahadur Chand visited the Republic of Korea from August 18 to 22, 2004 to participate in the Inter-religious and International Federation for World Peace.

From the Korean side,

  • Former chairperson of New Politics Alliance for Democracy (NPAD) Moon Jae-in visited Nepal in June 2016.
  • Speaker of the National Assembly Jung Eui-hwa visited Nepal in April 2016.
  • Chairman of the Foreign Affairs and Trade Committee of the National Assembly Ahn Hong-joon visited Nepal in January 2014.
  • Congressman Mr. Choi Kyu-Sung of Republic of Korea visited Nepal on 8-11 August, 2011.
  • Chang Nae Sam, Deputy Minister for Construction and Water Resource Policy, Ministry of Land, Transport and Maritime Affairs, RoK visited Nepal on 25-26 July, 2011.
  • H.E. Mr. Yu Myung-hwan, Minister for Foreign Affairs and Trade of Republic of Korea visited Nepal on 22 June, 2009.
  • Mr. Lee Sang Soo, Minister of Labour of Republic of Korea paid an official visit from 17-19 January 2007.
  • Deputy Foreign Minister of the RoK H.E. Mr. Cho Young-jai visited Nepal as Congratulatory Envoy of the Republic of Korea in May 2004.

Nepal-Korea Cooperation

The Republic of Korea is increasingly becoming an important and reliable partner in Nepal’s economic development. Construction, sericulture development, hydropower development, Road and infrastructure development, health Science, e-governance are some of the major areas supported by the Government of Korea to Nepal in the past. Korea also has assisted Nepal with soft loan through the Economic Cooperation Fund of Govt. of Korea. Nepal and Korea have signed Economic Development Cooperation Fund (EDCF) Agreement in 1997.

ROK is providing various supports to Nepal also through the Korea International Cooperation Agency (KOICA) mostly in technical fields in various areas. Some of such projects are ICT Centre at Institute of Engineering, Modernization of Custom Administration, Health Service Improvement in Tikapur, Establishment of Technical Training Centre at Kathmandu University, and Master Plan for the Lumbini World Peace City Preservation and Development, Disaster Recovery Centre in Hetauda, and Improving Maternal and Child Health Care in Mugu. National Health Insurance Support Programme (2013 – 2017), Integrated Rural Development Programme (2014-2017) and MDG’s Development Effectiveness Enhancement Project, UNDP (2014-1016) are also the noted cooperatio

Tourism

Nepal has been one of the most favored tourist destinations for Korean people mostly in adventure tourism. In 2018 alone, the RoK contributed 37201 tourists to Nepal, standing the seventh largest tourist source for the country. In recent years, the number of South Korean tourists visiting Nepal has significantly increased. According to the statistics, the numbers of Korean tourist arrival are as follows.

S.N. Year Numbers % of the total
1 2016 25171 3.34
2 2017 34301 2.95
3 2018 37,142 3.17
4 2019 29,680 2.5

Source: Nepal Tourism Board

Culture

Both the Governments have concluded a Cultural Agreement on 30 March 2005. The cultural agreement envisages promoting and developing the cooperation between the two countries in the field of culture, art, education, youths, sports and tourism. About 2000 Nepalese students, including in Doctoral and Post-Doctoral Degrees, are pursuing their higher studies at the different universities in Korea.

The relationship between Nepal and the Republic of Korea are nurtured and fostered at the peoples’ level for centuries through the commonalities of cultural values and exchanges based on the lofty ideals of Buddhism. In continuation of maintaining the tradition, preserve and promote the ideals of Buddha, in joint cooperation of Dosunsa temple, one of the largest Buddhist Order of Korea and Embassy of Nepal, brought the Eternal Peace Flame from Lumbini, the birthplace of Shakyamuni Buddha, and installed it permanently at Dosunsa temple in April, 2013.

Similarly in 2018, a large statue of Lord Buddha was brought from Nepal and installed in the touristic Waojangsa Buddhist Temple Area in Yongin city of the Republic of Korea at the initiative of the Nepalese Consulting Committee (NCC) Korea, a leading organization of the Nepali diaspora.

Volunteer Services

Under the agreement signed between the Government of Nepal and the Government of the RoK in January 1992, KOICA (Korea International Co-operation Agency) has opened its office in Nepal. Since then, KOICA has been dispatching middle level technical personnel to work as volunteers in various areas Nepal.

Other Issues

Both countries have concluded an agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income; both countries have also agreed to form a Nepal-Korea International and Cooperation Committee of Industrialists and Businessmen.

Both the governments have signed a unified Air Services Agreement (ASA). As a result of this understanding the Korean Air is operating its regular flights in the Seoul-Kathmandu-Seoul sector every week.

A Nepal-Republic of Korea Parliamentarians Friendship Group was established in 2002 consisting of then five members of House of Representatives. The current federal parliament of Nepal has a ten-member friendship group formed for the Republic of Korea.

An Agreement for the establishment of Consultation Mechanism between the two Ministries of Foreign Affairs of the Government of Nepal and the Republic of Korea was signed by the Foreign Minister of both the countries in October 2001. The first meeting of the Mechanism was held in Kathmandu in 2005. The second consultation mechanism meeting was held in Seoul on March 21, 2014 at the Joint Secretary level. Lately, the fourth meeting of BCM was held in Seoul in July 2018.

The RoK has been associated to the South Asian Association for Regional Cooperation (SAARC) as Observer. The RoK-SAARC Partnership Seminar is being held in Seoul every year since 2010.

 

Embassy of Nepal, Seoul

14 January, 2025