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SEOUL—South Korea will aim to secure critical mineral imports and boost trade ties with Africa as President Yoon Suk Yeol hosts dozens of heads of state from the continent at a major summit on Tuesday.
The East Asian country “is a high-tech manufacturing powerhouse, but it relies heavily on imports for over 95 percent of its raw mineral needs,” Yoon told AFP in written comments provided by the president’s office. Forty-eight African countries will attend, Seoul has said. The main summit is set for Tuesday, followed by a business summit involving South Korean and African industry leaders on Wednesday.
Seoul is looking to “actively support business-to-business exchanges,” to boost overall trade, Yoon added.Africa, home to 1.2 billion people spread across 54 nations, is famously diverse, politically and economically. The South “grew from a developing country to an advanced nation in just half a century,” Yoon said, adding he believes it has a lot of experience to offer, especially in terms of infrastructure development.
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