South Korea will accelerate negotiations with African countries on promoting investment and trade, President Yoon Suk Yeol said on Tuesday, as Seoul hosts a summit with the leaders of 48 African countries.
Yoon promised to increase development aid to African nations to $10bn over the next six years in return for increased mineral supply from the continent.
South Korea, one of the world’s biggest energy buyers, is seeking to tap into Africa’s rich natural resources by offering to help build its industrial and digital infrastructure.
Business leaders will host a summit on Wednesday to discuss industrial development, food security, investment and trade.
Credit: Source link
