SEOUL, South Korea—South Korea will expand development aid to Africa and pursue deeper cooperation with the region on critical minerals and technology, President Yoon Suk Yeol said Tuesday as he hosted a meeting with dozens of African leaders in Seoul.
South Korean President Yoon Suk Yeol, center, speaks during the opening ceremony of the 2024 Korea-Africa Summit in South Korea on Tuesday, June 4, 2024.
Trade with African nations currently accounts for less than 2% of South Korea’s total imports and exports. South Korean officials say expanding ties in the area of minerals and resources would help improve the country’s supply chain resilience in key industries such as batteries. South Korea’s outreach to Africa also comes at a time when North Korea is becoming more active in trying to break out of diplomatic isolation and build cooperation with countries confronting the United States, as its leader Kim Jong Un embraces the idea of a “new Cold War.”
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