Korea-Africa Summit: Toward shared growth

한-아프리카 정상회의: 동반 성장을 향하여

The Korea-Africa Summit and related events came to a close this evening.
Reaching toward the path to shared growth and co-prosperity, the summit yielded economic pacts and cooperation agreements across a wide spectrum of fields.
The summit came amid Africa's elevated significance on the global platform marked by its abundant resources, rapid economic growth, and the world’s youngest population.
On today’s Within the Frame, we delve into the major outcomes of the historic summit, key strategies to sustaining close bilateral partnerships, and the challenges that lie ahead.
To help us navigate through the key discussion points, we have Moamen Gouda, Economics Professor at Hankuk University of Foreign Studies' Middle East & Africa Department.
We also have Dr. Joseph Siaw Agyepong, founder and Executive Chairman of the Jospong Group of Companies.

(GOUDA) Q1. The summit brought together 48 African nations as the world battles against rising global economic and political uncertainties. Do you think the summit has helped Korea inch closer towards its goal of becoming a global pivotal state? How so?

(AGYEPONG) Q2. The Korea-Africa summit was held under the tagline, “The Future We Make Together: Shared Growth, Sustainability, and Solidarity.” As a successful entrepreneur bridging Africa and many other continents, how do you assess the significance of the summit?

(GOUDA) Q3. Africa is home to 30% of the world’s critical minerals, and securing key mineral supply chains was one of President Yoon’s key objectives. How do you see the summit outcome on this front?

(GOUDA) Q4. President Yoon held bilateral summits with leaders from 25 African countries. How do you gauge the economic benefits those summits will bring, particularly in trade and investment?

(AGYEPONG) Q5. President Yoon, marking the summit, has vowed to expand Korea’s Official Development Assistance in Africa to ten billion-dollar level, and also provide up to 14 billion dollars in export loans to boost Korean companies’ trade and investment in the continent. What are your expectations for Korea-Africa economic cooperation moving forward with this level of support?

(AGYEPONG) Q6. The Korea-Africa Business Summit was held today, which you were also a part of. Give us details about the summit-the ambiance, the topics discussed and also your assessment on the summit outcome.

(GOUDA) Q7. South Korea is a bit of a latecomer when engaging with African markets. Africa is currently ranked at the bottom among Korea’s trading partners. What are the challenges that Korea needs to overcome to better explore the African markets?

(AGYEPONG) Q8. Joint response to global challenges, such as climate change and sustainable growth, also topped the agenda during the Korea-Africa Summit. As a trailblazer in Africa’s waste and environmental management, how do you evaluate the summit agreements made in those areas?
+In what specific areas can Korea and Africa boost cooperation for sustainable growth and for the global fight against climate change?

(GOUDA) Q9. Experts point out that Korea’s ODA and economic cooperation with African nations must be upgraded, which calls for a new approach. What strategies are needed to seek and sustain an upgraded, long-term partnership between the two regions?


That's all from our team today. Thank you for watching and we'll be back with more same time on Friday.
Have a great holiday.

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2024-06-05, 18:30 (KST)