The South Korean trade minister emphasized the importance of expanding economic ties with African nations by diversifying into high-tech and service sectors, leveraging the upcoming Korea-Africa Summit to usher in a new era of collaboration. During the Africa Day Business Forum in Seoul, Trade Minister Cheong In-kyo urged Korea to actively pursue trade and investment with Africa, shifting focus from consumer goods and raw materials to high value-added products and services, and expanding local investment into future industries such as high-tech and clean energy. He highlighted the longstanding relations between Korea and African countries, dating back to 1961, and emphasized the contributions made by Korean companies in various sectors such as agriculture, manufacturing, and infrastructure, citing the successful completion of the Kazungula Bridge by a Korean builder. While underscoring Africa's economic potential, with a growth rate exceeding the global average and abundant resources, the minister expressed the timely and meaningful nature of the upcoming 2024 Korea-Africa Summit, which will elevate their consultative body to the summit level, signaling a commitment to strengthen economic cooperation. The minister also outlined the Ministry of Trade, Industry and Energy's plans to work on concluding the Trade and Investment Promotion Framework and the Economic Partnership Agreement during the African leaders' visit to Korea, with the goal of enhancing the foundation for economic cooperation with Africa. He pointed out the opportunities presented by the African Continental Free Trade Area, which aims to facilitate intra-African trade by creating a liberalized, single market for goods and services. Overall, the minister's remarks underscored the potential for deeper economic engagement between Korea and African nations in high-tech, service sectors, and future industries.