Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
Leaders of Korea, Africa to discuss partnerships at 1st summit
President Yoon Suk Yeol shakes hands with Ethiopian Prime Minister Abiy Ahmed Ali during a meeting at the presidential office in Seoul, Sunday. Courtesy of presidential office
By Lee Hyo-jin
Two-day event gathers delegates from 48 African countries including 25 state leaders
Korea is set to host its first-ever summit with African nations from Tuesday to Wednesday, marking a significant stride in Seoul's diplomatic outreach to the Global South.
The summit, scheduled to be held at Kintex in Goyang, Gyeonggi Province, will bring together delegations from 48 African countries, including 25 state leaders.
This is the largest multilateral gathering hosted by Korea under the Yoon Suk Yeol administration since its inauguration in May 2022, according to the Ministry of Foreign Affairs. The summit aims to elevate the dialogue between Korea and African nations from the ministerial to the highest levels.
Under the theme "The Future We Make Together: Shared Growth, Sustainability, and Solidarity," the major diplomatic event will gather delegations from African nations, international organizations, key figures from the Korean and international business communities, academia and non-governmental organizations.
During the discussion sessions on Day 1, leaders will address pressing global issues such as climate change, food security and supply chain stability. Following the summit, the Korean president, along with Mauritanian President Mohamed Ould Ghazouani, chairman of the African Union (AU), will issue a joint statement outlining key areas of cooperation.
The second day of the summit will feature a business summit, where government officials and business leaders from both regions will explore opportunities for cooperation. A business consultative session will also take place, allowing private companies from both sides to identify potential partners and forge cooperative relationships.
The two-day event will also include over a dozen sideline events covering various topics, including tourism, green climate initiatives, business, health, ICT, infrastructure, agriculture, marine and fisheries and development cooperation.
In the lead-up to the summit, Yoon held a string of bilateral meetings with around 10 African leaders on Monday, including those from Lesotho, Ivory Coast, Zimbabwe, Togo, Rwanda, Mozambique, Sao Tome and Principe, Guinea-Bissau and Cape Verde, at the presidential office in Seoul.
Later in the day, Yoon hosted a reception and a subsequent welcome banquet.
Among the 25 state leaders attending the summit, four of them — Sierra Leone's President Julius Maada Bio, Tanzanian President Samia Suluhu Hassan, Ethiopian Prime Minister Abiy Ahmed Ali and the Mauritanian president — are in Seoul on official visits.
The Korean president held individual summits with the Sierra Leone leader on Friday and with the Ethiopian and Tanzanian leaders on Sunday. He is set to meet with the Mauritanian leader on Wednesday.
Banners for the inaugural Korea-Africa Summit are hung at Kintex in Goyang, Gyeonggi Province, Monday. Yonhap
Korea's first-ever summit with African nations marks the pinnacle of growing partnerships between the two sides, the foreign ministry said.
Seoul's relations with African countries date back to the 1950-53 Korean War, during which African nations offered support. Ethiopia sent its Royal Guards, South Africa dispatched an air force squadron and Liberia provided logistical aid.
Since then, Korea has expanded its relationships with African countries, collaborating in areas such as trade, investment, infrastructure, minerals and energy, defense and digital technologies.
In today's world, where the influence of the Global South is increasingly significant, strengthening partnerships with African countries is not just an option but a necessity in realizing Korea's vision of becoming a global pivotal state, the ministry said.
Africa is a young continent, with 60 percent of its population aged 25 and under. The African Continental Free Trade Area, launched in 2019, has turned the vast region into a single market with a population of approximately 1.4 billion and a GDP of $3.4 trillion.
Furthermore, the region holds 30 percent of the world’s key raw materials that are essential components for future next-generation batteries. This underscores its pivotal role as a partner in the Fourth Industrial Revolution.
On the security front, the collective voice of African nations is becoming more influential on the international stage, as they comprise more than one-fourth of U.N. members. The AU recently attained permanent membership status in the Group of 20, underscoring the continent's growing presence in key global issues.