The Korea International Trade Association (KITA) and the African Continental Free Trade Area (AfCFTA) Secretariat co-hosted the first business roundtable under the Korea-Africa Economic Committee (KAEC) framework, bringing together 35 companies and institutions from both regions to explore cooperation in manufacturing, energy, infrastructure, and digital trade.
The roundtable, held in Seoul, marks the first official engagement under the KAEC since the signing of a memorandum of understanding between KITA and the AfCFTA Secretariat at the Korea-Africa Business Summit in June 2024.
Korean participants included Hyundai Motor Group, POSCO International, and Samsung Electronics. The African delegation featured the Pan-African Chamber of Commerce and Industry, power utility Eskom, and the OPAIA Group.
“If Korea’s industrial competitiveness is combined with Africa’s growth potential, we will be able to create a future-oriented model of cooperation that draws global attention,” said KITA Chairman Jin Sik Yoon. He said the KAEC will continue to support exchanges between business leaders and the discovery of cooperative projects.
AfCFTA Secretary-General. Wamkele Mene said the establishment of the KAEC “reflects our shared commitment to building practical and mutually beneficial partnerships between Africa and the Republic of Korea.” He added that as Africa advances implementation of the AfCFTA, “we welcome deeper cooperation in trade, investment, industrialisation, technology, and infrastructure that supports sustainable economic growth.”
Dr. Mun Su Kang, a research fellow at the Korea Institute for International Economic Policy, presented a paper titled “Tasks for Korea-Africa Economic Cooperation,” highlighting collaboration opportunities in manufacturing and infrastructure, decarbonisation and energy, and digital and e-commerce. The presentation underscored the importance of developing reciprocal supply chains that align Africa’s industrialisation ambitions with Korea’s technological and manufacturing capabilities.
KITA and the AfCFTA Secretariat said they intend to institutionalise the KAEC platform through regular meetings and continued business exchange engagements hosted on a rotational basis across both regions. KITA, founded in 1946, is one of Korea’s largest business organisations with more than 80,000 member companies.
