Samsung, LG, Hyundai ignorant of Nigeria – Korean Don (Daily Trust (Nigeria))

Global electronics giant, Samsung and the automobiles companies of KIA and Hyundai have failed to invest in the Nigerian business environment or be involved in direct business activities with the Nigerians due to their lack of adequate information about the country, Professor Han Kyong Sung of the University of Seoul has said.

Despite a combined production of more than six million cars per year by the Hyundai and KIA companies, and their import into Nigeria and most other African countries, Sung said, the automobile industries are yet to turn their attention to Africa owing to the uncertain business prospect to their investments.

The professor was speaking in reaction to the concerns raised by the Nigerian delegation currently undergoing KOICA-organised development strategy training in Korea yesterday over the non-presence of Korean companies like Samsung, LG, Hyundai, KIA and POSCO in Nigeria, despite the market potentials in the country.

Commenting on the issue, leader of the Nigerian delegation, Dr. Emmanuel Adamgbe of CBN said apart from not knowing Nigeria very well, the companies’ considerations are being shaped by Korea’s long-term isolated history.