Museveni Welcomes South Korean Investors to Enhance Uganda's Manufacturing Sector

President Yoweri Museveni welcomed a delegation of businesspeople from South Korea led by Kwon Hurkkoo, Cho Shanghyu, and Kim Jinwook, all Directors of HINENI Ltd. HINENI Ltd is a registered company in Uganda, headquartered in Nakawuka, Entebbe Road.

During the meeting at State House, Entebbe, President Museveni and his guests discussed areas of mutual interest and cooperation. Kwon Hurkkoo disclosed their intention to establish a plant that will manufacture automotive components, including electric batteries to complement Kiira Motors Corporation.

He emphasised that the profits from their investment will be reinvested in Uganda for development. The investors, who also visited Kiira Motors Corporation, offered expertise in training Ugandans in South Korea. Additionally, Hurkkoo mentioned plans to invest in Styrofoam iron sheets to mitigate heat and noise in residential environments.

Cho Shanghyu, an ICT expert, noted their interest in investing in advanced ICT technology and installation in Uganda. President Museveni thanked the investors for coming to Uganda and reiterated the strong working relationship with South Korea.

He encouraged them to take advantage of Uganda’s strategic location in Africa and its raw materials by investing in the country. “Uganda is much easier to develop because it has got a lot of resources. Even now production is very big but the problem is its raw materials; so by adding value to these raw materials, Uganda’s economy will be far. You are most welcome, we shall give you all the support,” he said.

The President also endorsed their investment initiative but emphasised the importance of safety, stressing that materials must meet the standards set by the Uganda National Bureau of Standards (UNBS).

The meeting was also attended by the Minister of Science, Technology and Innovation, Monica Musenero, the Minister of State for Gender, Labour & Social Development (Labour, Employment & Industrial Relations), Esther Davinia Anyakun, the Permanent Secretary of the Ministry of ICT and National Guidance, Aminah Zawedde, Prof. Vincent Anigbogu, the founder of the Institute of National Transformation, and Paul Isaac Musasizi, the CEO of Kiira Motors Corporation. Others in attendance included Ji Soonim, Kim Jeong Dae, Cho Kyungsik, Shin Chaechul, and Richard Okodel Mukhalu.