South Korean President Yoon Suk Yeol said on Tuesday the country will intensify cooperation with African countries to secure a stable supply of crucial minerals and accelerate negotiations to promote economic partnerships and trade.
At his first-ever summit with the leaders of 48 African countries, Yoon said South Korea will increase development assistance to Africa to $10 billion over the next six years as the country seeks to tap its rich mineral resources and potential as a huge export market.
“We will seek sustainable ways to work together on issues directly related to future growth, such as a stable supply of key minerals and digital transformation,” Yoon said in his opening remarks. He also pledged to offer $14 billion in export financing to promote trade and investment for South Korean companies in African countries.
