Nepal seeks Korean investment in large hydro projects

By A Staff Reporter,Kathmandu, Oct. 14: Ambassador of the Republic of Korea to Nepal, Park Tae-young, paid a courtesy call on Minister for Energy, Water Resources and Irrigation, Kul Man Ghising, on Monday.

During the meeting held at the Ministry of Energy, Water Resources and Irrigation in Singha Durbar, Ambassador Park congratulated Minister Ghising on behalf of the Korean government and wished him a successful tenure.

According to the Minister's secretariat, Minister Ghising urged the Korean government to support Nepal in green hydrogen production as a model project, noting its success in Korea and its potential in Nepal. 

He also sought Korean assistance in fertiliser production and public transport operations.

Highlighting the long-standing economic cooperation between Nepal and Korea, Minister Ghising proposed the development of large-scale hydropower projects—specifically above 500 MW—through government-to-government partnerships or with investment from Korean private companies. 

He emphasised the importance of large reservoir-based hydropower projects for maintaining Nepal’s energy balance and supporting electricity exports.

He requested the ambassador to increase the quota for Nepali workers under Korea’s Employment Permit System (EPS), to provide skill development training before their departure, and to support employment generation through entrepreneurship by utilising the skills acquired upon their return to Nepal.

Minister Ghising further called for the prompt finalisation of assistance from the Korean Export-Import (Exim) Bank for the Inaruwa-Anarmani 400 kV transmission line, which will connect the Arun River Corridor with the East-West Transmission Line. 

He also requested Korea’s support in enhancing Nepal’s capacity for railway construction, operation, and maintenance.

Ambassador Park briefed Minister Ghising on the progress of the 216 MW Upper Trishuli-1 Hydropower Project in Rasuwa, which is being developed with major investment from a Korean government company. 

The project is nearly 70 per cent complete, and the main tunnel breakthrough is scheduled for December.

He invited Minister Ghising to attend the tunnel breakthrough ceremony and expressed gratitude to the government of Nepal and the Nepal Electricity Authority for their support in advancing the project so far.

Ambassador Park noted that Korea is providing significant support to Nepal’s energy sector. 

He shared that a seminar is being organised in Nepal, in collaboration with private sector energy producers, to attract Korean investment. 

He said that discussions are ongoing with the Ministry of Finance regarding assistance in transmission line construction.