KATHMANDU, Nepal - Saturday, the Embassy of South Korea and Nepal's Ministry of Finance has signed a memorandum of understanding (MoU) for two projects totaling $16 million.
The projects are titled "Establishment of a Cyber Bureau with Capacity Building for Nepal Police" and "Strengthening a Stage-Wise Support System for the Stable Reintegration of Korean Returnee Migrants in Nepal."
The MoU was signed by Chong-suk Park, South Korea's ambassador to Nepal, and Krishna Hari Pushkar, the Nepal secretary of Nepal's finance ministry.
The South Korean government will spend $8 million on the Cyber Bureau project and $8 million on the Korea Returnee Migrants project through the Korea International Cooperation Agency (KOICA). KOICA will carry out the project in close collaboration and coordination with the relevant ministries.
The main goal of the Cyber Bureau project is to improve Nepal Police's anti-cybercrime capabilities.
The Korea Returnee project aims to contribute to Nepal's socio-economic development and increase employment through the stable reintegration of Korean returnee migrants and enhancing their entrepreneurship capacity.
Finance Secretary Pushkar thanked the Korean government for their partnership, strengthening the two countries' friendly relations.
During the event, Park expressed his concern about the rising rate of cybercrime in Nepal and around the world. He hoped the Cyber Crime project would help Nepal Police strengthen their capacity to combat cybercrime.