Addis Ababa — The South Korean Economy and Finance Ministry expressed interest in extending additional financial assistance to Ethiopia, according to the Embassy of Ethiopia in Seoul, South Korea.

Minister of Finance Ahmed Shide held discussion with first Vice Minister of Economy and Finance of the Republic of Korea, Kim Byoung-hwan.

During the discussion, Ahmed Shide remarked that South Korea and Ethiopia have long-standing, historic ties based on blood scarification.

Ahmed recalled a 1 billion USD financing framework agreement was signed last Sunday between Ethiopia and South Korea.

He further called on South Korea to enhance its financial support because Ethiopia, a country with over 120 million people and a rapidly expanding economy, is also going under financial reform.

The minister also pledged to advance Ethiopia and the Republic of Korea's financial and economic ties.

First Vice Minister of Economy and Finance of South Korea Kim Byoung-hwan, also vowed to further strengthen the two countries' financial and economic relations.

He also points out that Korea is keen to provide Ethiopia additional financial assistance.

Furthermore, Kim Byoung-hwan pledges to collaborate with Ethiopia to exchange knowledge and experience in the fields of economy and finance.

In order to strengthen the two countries' economic relationship, he also emphasizes the significance of multilateral cooperation in addition to bilateral partnership, the embassy noted.