Cameroon and Korean industrialist forge cocoa and industrial parks deal

In a strategic push to open new markets for Cameroonian cocoa through direct trade, Commerce Minister Luc Magloire Mbarga Atangana reached out in November 2024 to prominent figures in the global chocolate industry, among them South Korean industrialist Dr Hae-Jung Jung. Dr Jung recently accepted the invitation and arrived in Cameroon for a working visit, holding discussions on June 5, 2026 at the minister’s cabinet.

Responding to the minister’s request to elevate Cameroon’s cocoa bean on the international stage—especially in emerging markets—Dr Jung exceeded expectations. He announced that his company, which operates in several countries including China, could purchase half of Cameroon’s annual cocoa output of 300,000 metric tonnes. Advanced laboratory tests had confirmed the exceptional quality of Cameroonian cocoa, which prompted Dr Jung’s visit.

Beyond cocoa, Dr Jung outlined plans to drive structural transformation of Cameroon’s economy through significant investments. He is seeking plots of 100 hectares per site to build industrial parks incorporating advanced South Korean technology, similar to projects he has undertaken in Nigeria, Ghana, Angola, and Guinea.

Among the initial projects is the relocation of a factory manufacturing melamine and porcelain tableware and kitchen utensils. Dr Jung also expressed interest in social sector investments, notably healthcare. His commitment to Cameroon aligns with a proven continental strategy.

The Commerce Minister thanked his guest for the promising visit, which he said could advance President Paul Biya’s import-substitution policy. He highlighted Cameroon’s institutional stability, rich resources, and dynamic youth. Both sides agreed to move forward quickly on these projects.

Dr Jung’s track record, international references, and the sincerity of his approach—after more than a year of consideration since the minister’s invitation—open the door to serious and substantial investments in Cameroon’s economy.