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Africa’s rich mineral resources and its potential as a vast export market are at the top of South Korea’s agenda as it hosts a summit with the leaders of 48 nations this week with plans for aid on industrial infrastructure and digital transformation.
Africa is a “crucial partner” for South Korea to further its industrial advances and “cooperation with Africa is not a choice but a necessity”, President Yoon Suk Yeol’s deputy national security adviser Kim Tae-hyo said.
At least 30 heads of state are attending the summit today, with delegations from 48 countries participating. Yoon and the chair of the African Union, President Mohamed Ould Ghazouani of Mauritania, will issue a joint statement, Yoon’s office said.
Tomorrow, South Korean business leaders will host a business summit focused on investment, industrial development and food security.
“Africa’s strategic importance has never been greater,” Kim said.
South Korea is one of the world’s largest energy buyers and is home to leading semiconductor producers and the world’s fifth largest carmaker making a push for electrification. Partnership with Africa with 30 percent of the world’s critical mineral including chrome, cobalt and manganese is crucial, Yoon’s office said.
Since Friday, Yoon has held meetings with the leaders of Sierra Leone, Tanzania and Ethiopia and is scheduled to meet separately the heads of other states including Zimbabwe, Togo, Rwanda and Mozambique on Monday. – Reuters
Bongani Ndlovu
Online Reporter