South Korea’s Yoon Suk-yeol pledges closer ties with Africa on minerals and trade

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SEOUL –
South Korean President Yoon Suk-yeol said on Tuesday the country will step up cooperation with African nations to secure a stable supply of critical minerals and speed up negotiations to promote economic partnerships and trade.Hosting a first-ever summit with the leaders of 48 African countries, Yoon said South Korea will increase development aid for Africa to $10 billion over the next six years as it looks to tap the continent’s rich mineral resources and potential as a vast export market.”We will seek sustainable ways to work together on issues directly related to future growth, such as stable supplies of key minerals and digital transformation,” Yoon said in his opening remarks. He also pledged to offer $14 billion in export financing to promote trade and investment for South Korean companies in African countries.

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