Kenya and South Korea have signed a significant agreement that promises to boost technological innovation and economic collaboration between the two nations.

According to President William Ruto, the Sh63 billion concessional development funding agreement, signed on the sidelines of the Korea-Africa Summit, marks a major step forward in their bilateral relationship.

A central focus of the agreement is the Konza Digital Media City Project, which will receive Sh30 billion in funding.

Ruto hailed the project as a game-changer for the country's digital ecosystem.

"This project will provide an excellent digital media and entertainment ecosystem for research, training and the propagation of new technologies," he said, emphasizing the project's potential to create opportunities for Kenya's youth in the digital and creative economy sectors.

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President Ruto further commended Korea's Economic Innovation Partnership Programme, a separate initiative that will provide additional support to the Konza Technopolis development.

He also expressed his appreciation for Korea's partnership in establishing the Kenya Advanced Institute of Science and Technology (KENYA-AIST), modelled after the highly successful Korean Advanced Institute of Science and Technology.

KENYA-AIST, nearing completion, is expected to be unveiled later this year.

President Ruto extended an invitation to President Yoon Suk Yeol of Korea to attend the official opening ceremony, highlighting its significance as a symbol of Africa-Korea collaboration in science and technology.