S. Korea to host economic ministerial meeting with Africa in Sept.

Seoul will host a four-day economic ministerial conference with African nations from September 8 to 11, according to South Korea's finance ministry. The Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference, co-hosted by the Export-Import Bank of Korea and the African Development Bank (AfDB), aims to leverage artificial intelligence (AI) and digital infrastructure to spur Africa's growth, leveraging South Korea's strengths in AI and information and communications technology (ICT).

Finance ministers from 54 African countries, alongside other high-ranking ICT officials and AfDB leaders, are expected to attend. Discussions will cover areas such as laying the groundwork for AI and digital industries, along with implementing South Korean AI solutions in healthcare, agriculture, and education. The conference will also feature ministerial-level meetings, business forums, seminars, and investment presentations.

Established in 2006, the KOAFEC serves as a high-level consultative body between South Korea and Africa, facilitating exchanges and identifying development cooperation projects.