Two decades after establishing its economic partnership with Africa, South Korea aims to expand its presence on the continent, focusing on investment, technology, and business. The recent Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference in Seoul gathered approximately 800 attendees, including delegates from 45 African nations, marking a significant step in this renewed engagement.
The conference highlighted Korea’s interest in doing more business with Africa, with African governments seeking partners that can bring not only financing but also technology, industrial capacity, and long-term investment. The meeting marked 20 years since KOAFEC was established in 2006 as a platform bringing together Korea, African countries, and the African Development Bank.
