Korea to launch critical minerals dialogue with African partners

Posted on : 2024-06-05 17:19 KST Modified on : 2024-06-05 17:19 KST
South Korea also pledged additional official development assistance to Africa to the tune of US$10 billion by 2030
President Yoon Suk-yeol speaks at a summit with leaders of African nations held in Goyang, Gyeonggi Province, on June 4, 2024. (Yonhap)
President Yoon Suk-yeol speaks at a summit with leaders of African nations held in Goyang, Gyeonggi Province, on June 4, 2024. (Yonhap)

Tuesday’s South Korea-Africa summit saw President Yoon Suk-yeol and representatives of 48 African countries agree to launch a dialogue on critical minerals cooperation to provide key minerals essential for semiconductors and electric vehicle batteries and enable cooperation on technology. 

Yoon met with the leaders and delegations from the African countries represented at the first-ever South Korea-Africa summit, which took place at KINTEX in Goyang, Gyeonggi Province, not far from Seoul. There, the leaders adopted a joint declaration. 

In a joint press conference with Mauritanian President Mohamed Ould Cheikh el Ghazouani, the chairperson of the African Union, Yoon said the critical minerals dialogue “will set an example for a stable supply chain through mutually beneficial cooperation and contribute to sustainable development of mineral resources around the world.” 

South Korea and African countries also agreed to expand reciprocal trade and investment cooperation through economic partnership agreements and trade and investment promotion frameworks to achieve “shared growth.”   

South Korea has promised to increase its official development assistance to Africa to US $10 billion by 2030 as well as to expand its project for sustainable food security with Africa. 

The summit wraps up on Wednesday after events involving entrepreneurs from both countries, including a summit of business leaders. 

By Jang Na-rye, staff reporter 

Please direct questions or comments to [english@hani.co.kr

 

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