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Korea’s Daewoo Leaves Cameroon

Korea’s Daewoo Leaves Cameroon

Korea’s leading trading firm Daewoo International Corporation closed its subsidiary in Cameroon. The international trading, investment, and resource development company had opened in Yaoundé, one of its five subsidiaries in Africa.

“No official reason was given as to what led to the closure although some sources suggest that structural causes are behind the move,” reports Star Africa.

Strangely, Daewoo is leaving Cameroon just when Korea’s presence in the country is growing, in the infrastructure and transport sectors, as well as in the automotive industry and vocational training.

Daewoo International has offices in South Africa, Ethiopia, Kenya, and Nigeria.