[Africa Forum] Korea ready to support Africa’s FDI push


During the Africa Day Business Forum in Seoul, African ambassadors and Korean trade experts discussed the potential for economic collaboration between Korea and Africa. The panel, moderated by Tunisian Ambassador to Korea Kais Darragi, focused on strategies to attract more investment into African countries. Vice President Hong Soon-young of the Export-Import Bank of Korea emphasized the importance of foreign domestic investment for African economic growth, suggesting that African nations consider Korea's Economic Development Cooperation Fund as a resource. Additionally, Lee Kwang-bok, director of the Korea Overseas Infrastructure and Urban Development Corporation, advocated for a "blended finance policy" to attract private investment in Africa. Meanwhile, Kim Young-sang, director of the Korea Trade-Investment Promotion Agency, highlighted potential areas of cooperation such as premium consumer goods, the biomedical sector, and agriculture. Egyptian Ambassador to Korea Khaled Abdel Rahman underscored the potential for improving the quality of life in Africa through economic ties with Korea, particularly in renewable energy and digital innovation. Chammah Judex Kaunda, an African studies professor at Yonsei University, emphasized the importance of cultural understanding and collaboration between Korea and African countries for more efficient collaborative efforts.


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