South Korea
Representatives from 48 African nations are attending the first-ever Korea-Africa summit. The 2-day talks which opened on Tuesday (Jun. 3) are expected to focus on trade, technology and investment.
South Korean officials say expanding ties in the area of minerals and resources would help improve the country’s supply chain resilience in key industries such as batteries.
"In order to boost cooperation with Africa, South Korea will expand ODA (Official Development Assistance program) to around 10 billion dollars until 2030. Also in order to encourage South Korean trade and investment in the region, South Korea will provide 14 billion dollars in export financing."
Trade with African nations currently accounts for less than 2% of South Korea’s total imports and exports.
South Korea’s outreach to the continent comes at a time when neighbour North Korea seeks to break out of diplomatic isolation.
01:37
Vladimir Putin holds bilateral talks with Cyril Ramaphosa on sidelines of BRICS summit
Go to video
Two dead, 22 rescued after migrant boat capsizes in rough seas near Greek Island
01:20
Mpox: Head of Africa CDC urges partners to honour pledges as death toll tops 1,000
01:57
Women entrepreneurs face financing hurdles in agriculture, FAO program offers solutions
Go to video
US warns nationals to reconsider travel to Marburg-hit Rwanda
01:06
India offers financial support to Maldives after talks to repair ties