GOYANG, South Korea, June 4 (Reuters) – South Korean President Yoon Suk Yeol and the leaders of African countries agreed on Tuesday to forge deeper trade and business cooperation and launched a “critical minerals dialogue” aimed at sustainable development of the continent’s resources.
Hosting a first-ever summit with the leaders of 48 African nations, Yoon said South Korea would increase development aid for Africa to $10 billion over the next six years as it looks to tap the continent’s rich mineral resources and potential as a vast export market.
“The Critical Minerals Dialogue launched by South Korea and Africa will set an example for a stable supply chain through mutually beneficial cooperation and contribute to sustainable development of mineral resources around the world,” Yoon said in his closing remarks.
He also pledged to offer $14 billion in export financing to promote trade and investment for South Korean companies in Africa.
For the rest of this article: https://www.reuters.com/world/asia-pacific/south-koreas-yoon-calls-greater-cooperation-with-africa-minerals-trade-2024-06-04/