Latest news with #Korea-Africa
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Korea Herald
22-05-2025
- Business
- Korea Herald
[Africa Forum] AGA dean highlights the significance of Korea-Africa relations in era of disruption
Dean of African Group of Ambassadors says time has come to unlock the full potential of Africa-Korea partnership The Korea-Africa partnership is about more than an opportunity to explore shared dreams in a changing global environment, according to Moroccan Ambassador Chafik Rachadi, who serves as the dean of the African Group of Ambassadors. 'The Africa and Korea partnership of the 21st century speaks the language of collaboration, equity and long-term resilience. In this era of global disruption, fostering these robust and inclusive partnerships goes beyond economic and political cooperation,' said Rachadi in his opening remarks at the Africa Day 2025 Korea-Africa Business Forum on Wednesday. The forum at Grand Hyatt Seoul was co-hosted by Herald Media Group, the African Group of Ambassadors and the Korea-Africa Foundation. Though the cooperation between the two has yet to reach its full potential, the Moroccan ambassador believes that the next decade presents a chance to accomplish a dynamic framework grounded in mutual interest and strategic collaboration. 'Korea's leadership in innovation, digital technology, clean energy and smart infrastructure can meet Africa's growing demand for transformation and inclusive growth. At the same time, Africa's youthful demographics, natural resources and expanding markets represent unparalleled opportunities,' Rachadi said. 'The time has come to unlock the full potential of the Africa-Korea partnership,' he added. While explaining how the African continent has immeasurable potential, as well as geopolitical and economic significance across the globe, the AGA dean underlined the partnership with Korea as a sign of trust, mutual respect and a shared vision for an inclusive future. 'Let us seize this moment to chart a more ambitious course, grounded in mutual benefit, shared prosperity and a deep commitment to Africa's transformative potential,' he said.
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Korea Herald
22-05-2025
- Business
- Korea Herald
[Africa Forum] Bridging Africa, Korea; building shared future
Seoul forum highlights growing Korea-Africa ties across trade, innovation, cultural exchange Seizing opportunities through innovative collaboration and targeted initiatives is critical to unlocking Africa's vast potential as a key engine of global growth and reinforcing Korea's strategic role in the continent's transformation. The Africa Day 2025 Korea-Africa Business Forum, held in Seoul under the theme 'Building Bridges, Creating Opportunities,' brought together over 800 distinguished guests from government, business and civil society. The forum served as a high-level platform to deepen strategic dialogue, reaffirming a shared commitment to elevate Korea-Africa cooperation amid a rapidly evolving trade and investment landscape. Jointly organized by the African Group of Ambassadors in Korea, Herald Media Group and The Korea-Africa Foundation, the event featured policy discussions, business talks and cultural celebrations, providing a dynamic venue to explore economic and diplomatic engagement across Africa — a continent of 1.4 billion people and immense opportunity. Moroccan Ambassador Chafik Rachadi, who also serves as dean of the African Group of Ambassadors in Korea, emphasized Africa's evolution from a continent of untapped promise to one of decisive action and opportunity while welcoming Korea's growing engagement. 'The Republic of Korea's decision to place Africa more prominently within its Indo-Pacific Strategy and broader foreign policy priorities stands as a signal of trust, mutual respect, and a shared vision for a more interconnected and inclusive future,' he said while delivering his opening remarks. Choi Jin-young, CEO and president of Herald Media Group, reflected on the progress made since the forum's first edition last year, which coincided with Korea's inaugural summit with African nations and marked Africa Day, commemorating the founding of the Organization of African Unity on May 25, 1963. 'Last year, under the theme 'When African Possibilities Meet Korean Capabilities,' we explored the potential for cooperation and a shared vision for the future. Now, just one year later, we have gathered here again to realize the spirit and values of Ubuntu — I am what I am because of who we all are.' Choi emphasized the growing relevance of Africa in areas such as information and communication technology; artificial intelligence; environmental, social and governance; and digital transformation, underscoring the importance of deepening partnerships to leverage these trends Park Jong-won, deputy minister of the Ministry of Trade, Industry and Energy, emphasized Korea's expanding economic footprint in Africa, citing projects in Morocco, Nigeria, Tanzania and South Africa. 'If Korea's advanced technological capabilities are combined with Africa's potential as a promising future market, significant synergies will be created in overcoming global trade risks and achieving mutual growth.' Park reaffirmed Korea's commitment to follow-up efforts on 12 government-to-government memorandums of understanding signed between Korea and 11 African countries, alongside ongoing negotiations for Economic Partnership Agreements. A panel discussion, moderated by Tunisian Ambassador Kais Darragi, explored future cooperation through skills development and innovation. Kenya Ambassador Emmy Kipsoi noted the importance of tailored capacity-building efforts and mutual respect in green industrialization and economic partnerships: 'Africa offers many complementary advantages for Korea ... it's essential that we explore collaboration in areas like green industrialization.' Um Sung-yong, executive director of the Export-Import Bank of Korea's EDCF Operation Group, called for enhanced support for infrastructure, healthcare and education projects via the Economic Development Cooperation Fund. 'If there are Korean investors in Africa, our governments should discuss how EDCF can support these initiatives,' one delegate said. Panelists included Timothy Dickens, chairman of the South African Chamber of Commerce; C&G Limited CEO Gloria Ineza; and Yook Euna, executive president of Middle East and Africa Business at Heerim Architects and Planners. The second half of the forum celebrated Africa Day with a performance by the Africa Insight Champion Choir, a group of African and Korean musicians performing 'Champions,' symbolizing unity and celebration. Welcome remarks were delivered by Ambassador Kim Young-chae, president of The Korea-Africa Foundation, and AGA Dean Rachadi. Kim noted that Korea-Africa ties are being strengthened through increased diplomatic presence, growing trade and investment and vibrant people-to-people and cultural exchanges. Ambassador Kung Ki-hong, special envoy for public diplomacy at the Ministry of Foreign Affairs, gave a congratulatory address. In his special remarks, Jeonbuk State Governor Kim Kwan-young emphasized the importance of subnational cooperation. 'The province regards Africa as a future partner for growth, and I believe that exchanges between local governments should be as active and prioritized as those between nations.' A standout highlight of the event was the vibrant fashion show, where diplomats and representatives from 13 African nations and Korea walked the runway, embodying cultural pride, unity and mutual respect. The showcase celebrated the rich textile heritage and diverse cultural identity of the African continent. Following the show, guests were treated to a festive banquet featuring hotel-prepared dishes and authentic African delicacies crafted by the spouses of ambassadors, a gesture of hospitality that underscored the spirit of community and cross-cultural exchange. The list of ambassadors from African countries who attended the Africa Day 2025 Korea-Africa Business Forum includes Amb. of Morocco Chafik Rachadi, Amb. of Kenya Emmy Jerono Kipsoi, Amb. of Angola Edgar Gaspar Martins, Amb. of Tanzania Togolani Edriss Mavura, Amb. of Egypt Khaled Abdel Rahman, Amb. of Senegal Abdou Salam Diallo, Amb. of Ethiopia Dessie Dalkie Dukamo, Amb. of Sudan Amira Agarib, Amb. of Zambia Andrew Banda, Amb. of Rwanda Bakuramutsa Nkubito Manzi, Amb. of Tunisia Kais Darragi, Amb. of South Africa Sindiswa Mququ, Amb. of Gabon Landry Mboumba, Amb. of Sierra Leone Paul Sobba Massaquoi, Amb. of Cote d'Ivoire Allou Wanyou Eugene Biti. Ghana Embassy charge d'affaires Akwasi A. Adomako, Nigerian Embassy charge d'affaires Jaho-Herbert Inex Omamoke, D.R. Congo Embassy Minister Counsellor Jean-Remy Likpala Kalonda and Algerian Embassy attache Rabah Khelladi also attended.
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Korea Herald
22-05-2025
- Business
- Korea Herald
[Africa Forum] Africa Day forum highlights synergy opportunities in startups, tech, energy
African ambassadors, business leaders and regional experts gathered in Seoul on Wednesday for the Africa Day 2025 Korea-Africa Business Forum, exploring opportunities for cooperation in R&D, startups, infrastructure and trade. During a panel discussion titled 'Building Bridges, Creating Opportunities: Korea-Africa Synergy in an Era of Disruption,' moderated by Tunisian Ambassador to Korea Kais Darragi, participants discussed areas where African countries and Korea can collaborate, as well as the limitations both sides must overcome to achieve mutual benefit. Opening the discussion, Kenyan Ambassador to Korea Emmy Kipsoi emphasized Africa's vast potential, particularly in its highly skilled and youthful workforce in science and technology. She urged Korean companies to invest more actively in research and development across the continent. 'The value chain will begin and end in Africa. So the best place to begin your R&D is in our universities. This is the space that is open for you,' Kipsoi said. She also called for stronger networking between Korea and African countries at both government-to-government and government-to-business levels, while addressing the need to fix existing trade imbalances. From the Korean business side, Yook Eun-a, executive vice president of Heerim Architects and Planners, emphasized the importance of understanding local cultures and knowledge exchange when doing business in Africa. 'We always work together with local talents to understand the culture — otherwise, our building design does not mean much,' Yook said. She noted that Heerim collaborates with local universities and technical schools and supports internships, design studios and workshops. 'This is a win-win situation not only for us but also for the clients in our new markets,' she added. Gloria Ineza, CEO and co-founder of SKN By G&G, a leading distributor of premium Korean skincare products in East Africa, highlighted the need to increase awareness of Korean startup support programs in Africa and expand institutional hubs across the continent. 'As a young entrepreneur in Rwanda, there was not much support in terms of funding, so I had to be self-reliant at the start,' Ineza said, adding that she only discovered organizations like the Korea-Africa Foundation after founding her company. 'We need to raise more awareness when it comes to startups because many young entrepreneurs simply don't know that this foundation exists.' Timothy Dickens, chairman of the South African Chamber of Commerce, identified energy and infrastructure as two key sectors for Korea-Africa collaboration. Acknowledging Korea's strength in both areas, he urged Korean firms to partner with local players to facilitate knowledge transfer and implement large-scale projects. As an attorney affiliated with Korean law firm DR & AJU, Dickens also pointed to the lack of legal frameworks to support Korea-Africa business ties, as well as visa restrictions, which present hurdles to engagement. 'One of the biggest issues we face with our clients is that Korea has no free trade agreement with any African country — which is surprising, considering that Korea probably has the most FTAs in the world.' Echoing Dickens' view, Ambassador Darragi suggested Korea introduce a Generalized System of Preferences or GSP scheme for non-least-developed African countries to promote trade and easy access to African products in the Korean market. 'Africa offers a new destination for global supply chains for Korean businesses seeking to diversify their geographical footprint. Africa also represents a natural ally in promoting international cooperation, a rules-based order and the free flow of global trade,' he added. Um Sung-yong, executive director and head of the EDCF Operation Group at the Export-Import Bank of Korea, presented the Korean government's ODA-backed Economic Development Cooperation Fund program, noting that Africa is the second-largest recipient region after Asia. 'We provide loans to the governments of our partner countries to construct basic infrastructure that supports economic growth,' Um said. He emphasized that Africa must attract more private investment to better utilize its abundant natural resources and critical minerals. 'Infrastructure such as water pipelines, railways and seaports is crucial for exporting critical minerals. The EDCF offers loans and direct funding so partner countries can build such infrastructure,' he explained.
Korea Herald
22-05-2025
- Business
- Korea Herald
[Africa Forum] AGA dean highlights significance of Korea-Africa relations in era of disruption
Dean of African Group of Ambassadors says time has come to unlock the full potential of Africa-Korea partnership The Korea-Africa partnership is about more than an opportunity to explore shared dreams in a changing global environment, according to Moroccan Ambassador Chafik Rachadi, who serves as the dean of the African Group of Ambassadors. 'The Africa and Korea partnership of the 21st century speaks the language of collaboration, equity and long-term resilience. In this era of global disruption, fostering these robust and inclusive partnerships goes beyond economic and political cooperation,' said Rachadi in his opening remarks at the Africa Day 2025 Korea-Africa Business Forum on Wednesday. The forum at Grand Hyatt Seoul was co-hosted by Herald Media Group, the African Group of Ambassadors and the Korea-Africa Foundation. Though the cooperation between the two has yet to reach its full potential, the Moroccan ambassador believes that the next decade presents a chance to accomplish a dynamic framework grounded in mutual interest and strategic collaboration. 'Korea's leadership in innovation, digital technology, clean energy and smart infrastructure can meet Africa's growing demand for transformation and inclusive growth. At the same time, Africa's youthful demographics, natural resources and expanding markets represent unparalleled opportunities,' Rachadi said. 'The time has come to unlock the full potential of the Africa-Korea partnership,' he added. While explaining how the African continent has immeasurable potential, as well as geopolitical and economic significance across the globe, the AGA dean underlined the partnership with Korea as a sign of trust, mutual respect and a shared vision for an inclusive future. 'Let us seize this moment to chart a more ambitious course, grounded in mutual benefit, shared prosperity and a deep commitment to Africa's transformative potential,' he said.
![[Africa Forum] ‘Ubuntu spirit' guides Korea-Africa cooperation, says Herald CEO](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F05%2F22%2Fnews-p.v1.20250522.a909715a9a224332bbc95b81da793457_T1.jpg&w=3840&q=100)
Korea Herald
22-05-2025
- Business
- Korea Herald
[Africa Forum] ‘Ubuntu spirit' guides Korea-Africa cooperation, says Herald CEO
Choi Jin-young, president and CEO of Herald Media Group, expressed hopes for deeper cooperation between Korea and Africa during the Africa Day 2025 Korea-Africa Business Forum held in Seoul on Wednesday. 'Last year, for the first time since the Republic of Korea was founded in 1948, the country welcomed African heads of state and explored ways to strengthen our ties and build a shared vision for the future,' Choi said in his welcoming remarks at the forum, referring to the Korea-Africa summit held in June last year. "Just a year later, we are meeting again in the spirit of South Africa's 'Ubuntu' — I am because we are — to take the next step forward.' Choi highlighted that meaningful progress has already been made since last year's summit, particularly in supporting Korean businesses seeking opportunities in African countries. He pointed to increased investment in infrastructure and growing mutual exchanges as signs of such progress. 'With a population of 1.4 billion, Africa is a continent full of opportunity,' he said. 'As it takes on a leading role in global issues such as (information and communications technology, artificial intelligence), digital transformation, and (environmental, social and governance), Africa is emerging as a key driver of global growth. At this pivotal moment, Korea must strengthen its strategic partnership with Africa — and Herald will be there every step of the way,' he said.
