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Korea Herald
22-05-2025
- Business
- Korea Herald
Korea, Africa can be woven into 'rope of unity'
A high-ranking South Korean diplomat said Wednesday that South Korea and Africa can join hands to tackle global geopolitical rivalries and supply chain disruptions together, like strands woven into a rope. Jung Kihong, ambassador and deputy minister for public diplomacy, said partnerships between the two "matter more than ever," describing each other as the partners that "have much to share and learn from each other." "We share a belief in human dignity, in innovation, in the power of youth," Jung said during the Africa Day 2025 Korea-Africa Business Forum held at Grand Hyatt Seoul. "We share a history of overcoming difficulty, of turning scarcity into opportunity and pain into progress," he said, adding that South Korea and Africa can work together to "build on that shared spirit." Serving as chief coordinating officer for the preparation of the inaugural Korea-Africa Summit in 2024 in Goyang, Gyeonggi Province, Jung said the historic summit would not be a one-off event and instead heralded the beginning of "something greater." "Let us bind our hopes, our knowledge, our efforts into a rope of unity and purpose that no crisis can unravel," Jung said, alluding to an African proverb indicating a cord made of many strands is hard to break. Jung has served as the ministry's public diplomacy ambassador since April.
Korea Herald
07-04-2025
- Business
- Korea Herald
Tanzania, Korea discuss critical minerals
Experts from Tanzania and South Korea discussed minerals critical for future industries, such as graphite, nickel, lithium and rare earth elements, at the Tanzania-South Korea Critical Mineral Roadshow in Seoul. Jointly organized by the Tanzanian Embassy in Seoul and the Korea Institute of Geoscience and Mineral Resources (KIGAM), the roadshow follows the June 2024 agreement between South Korea and Tanzania to enhance resource and mineral cooperation. During the first-ever Korea-Africa Summit held in Seoul last year, South Korea and Tanzania agreed to cooperate on critical minerals to strengthen South Korea's supply chains for key industries such as rechargeable batteries. The two countries also announced the start of negotiations for an Economic Partnership Agreement to deepen trade ties, aiming for a mutually beneficial trade network beyond basic market access. At the roadshow, KIGAM reiterated bridging Korean companies with the Tanzanian government and businesses for joint mineral projects. KIGAM and a high-level delegation of Tanzanian officials — from the Ministry of Minerals, Geological Survey of Tanzania, State Mining Company and the Mining Commission — called for stronger Tanzania-Korea cooperation in the mining and refining sectors to diversify critical mineral supply chains and reduce dependence on China. 'Tanzania plans to complete 50 percent of its geochemical surveys by 2030 to develop high-value mines with investment support,' said Musa Budeda, CEO of GST. 'Besides mining, there are also opportunities in refining facilities, transportation and logistics infrastructure,' said Budeda, highlighting the rising demand for critical minerals to achieve global net-zero goals. He projected that by 2040, copper demand would rise 1.5 times compared to 2003 levels, while lithium demand would increase ninefold. Experts at the roadshow highlighted that with a growing global population, the demand for critical minerals is expected to rise steadily. Minerals such as lithium and rare earth elements are essential for advancing low-carbon technologies, including electric vehicles. 'This is not just about the government — it is equally about the private sector,' said Tanzanian Ambassador to Korea, Togolani Edriss Mavura. 'This mix provides you with the entire ecosystem of solutions a Korean company needs to invest in Tanzania,' said Mavura. Following the roadshow, GST and KIGAM signed a memorandum of understanding on March 26, 2025, to enhance geoscience research and mineral exploration. The agreement promotes joint geological, geochemical and geophysical research; mineral processing studies; capacity building and natural disaster management research. Tanzanian Deputy Minister for Minerals, Steven Kiruswa, commended South Korea's commitment to the partnership, emphasizing its potential to empower Tanzanians with technical expertise. 'This partnership is a significant step in positioning Tanzania as a global leader in mineral research and value addition,' said Kiruswa. The event featured B2B meetings between Tanzanian and Korean companies, with site visits to KIGAM's research infrastructure in Daejeon. Meanwhile, Tanzanian officials toured KIGAM's facilities to see advanced mineral processing techniques, electric vehicle battery material innovations and sustainable mining technologies. sanjaykumar@
