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Chairman&CEO S. Joon Kim paid a visit to the Republic of Equatorial Guinea

2010-11-08

*Chairman S. Joon Kim having a talk with Equatorial Guienan President Teodoro OBIANG NGUEMA MBASOGO


Chairman&CEO S. Joon Kim paid a visit to the Republic of Equatorial Guinea from the 8th to the 11th of September. He was accompanied by six other businessmen from Ssangyong, including the President, and the Vice President of Overseas Business Headquarters Kim Seung-jun and Heo Ki-tae respectively, and members of the Civil Engineering Department and Legal Services Department.

The trip was initiated by an invitation extended from Equatorial Guinean President Teodoro OBIANG NGUEMA MBASOGO’s to Chairman Kim. During his trip, President Kim held a one-on-one meeting with the Equatorial Guinean President and attended a seminar, in which Ssangyong’s promotion video was presented and the members of the Civil Engineering Department gave a presentation on new city projects.

In this seminar, He stated, “Ssangyong’s history spans three decades, and in particular, it is a strong leader in overseas construction.” He also added, “What you saw today is just a presentation based on the limited information available, but, if we are provided with more detailed information on new-city-development in Guinea, we will come up with the best plan for your country.”

In response, President Teodoro OBIANG NGUEMA MBASOGO said “We hope to work closely together with Ssangyong for the new city development project based on Ssangyong’s abundant experience in city development projects,” adding “I will order competent Ministers to provide you with relevant information.”

The Republic of Equatorial Guinea, located at the Gulf of Guinea in the west of the African continent, holds 1.8 billion barrels of oil, positioning itself as the third largest oil-producing country in Africa, next only to Nigeria and Angola.

With nearly $40,000 per capita income, the country is called “the Kuwait of Africa,” and it is highly recognized for its strong potential as a new market, as the nation is planning to relocate 200,000 people to inland areas to improve government control and national security.