Korean diplomats are working hard to help Daewoo Logistics regain a huge land deal it lost after a 2009 coup d’etat in the island nation in anticipation of new elections slated for the first half of this year, according to Viru News
Daewoo says its capital increase in its subsidiary in Madagascar will be used to pay operating expenses and to finance market studies concerning its future investments, mainly chicken farming and public construction works.
The Korean company Daewoo Logistics Corporation has acquired all the shares in the agribusiness company Madagascar Future Entreprises. Its manager Kwon Kim is believed to have begun new negotiations with the present Malagasy government for agricultural projects.
The relationship between landowners and land on which people are living is not so clear in Africa, so the first thing we have to do is to survey lands and clarify the ownership of the land, says Korean diplomat.