Choo said South Korea and Africa can create “the strongest” solidarity by utilizing cutting-edge technologies and growth potential, respectively (Yonhap)
SEOUL, Sept. 13 (Korea Bizwire) — South Korea seeks to expand ties with Africa in key areas, such as agriculture, biohealth and climate change, to strengthen a mutually beneficial partnership with the continent, the finance ministry said Wednesday.
Finance Minister Choo Kyung-ho made the remark during the opening speech of the seventh Korea-Africa Economic Cooperation Ministerial Conference that will run through Friday in the southeastern port city of Busan, inviting representatives from 38 African countries.
“Over the past five years, the global environment faced various transformations, including the COVID-19 pandemic, restructuring of the supply chain, emerging protectionism, health crisis, escalating digitalization and climate change,” Choo said in the speech.
“In the process, the importance of South Korea and Africa in the global community expanded significantly,” he added.
Choo said South Korea and Africa can create “the strongest” solidarity by utilizing cutting-edge technologies and growth potential, respectively.
In line with such efforts, the finance minister suggested that South Korea and Africa can expand collaboration in what he calls “ABC,” which refers to agricultural transformation, biohealth and climate change.
“Through the K-rice belt project, South Korea will share its experience of overcoming famine and establish grounds to cultivate high-yield rice, helping Africa to become self-sufficient in rice by offering customized support to each country,” Choo said.
As part of Seoul’s official development assistance (ODA), the project calls for supplying high-yield rice varieties and agricultural machines, helping Africa build irrigation and other facilities, and sharing experiences and technologies regarding crop cultivation and distribution.
Choo said South Korea will further elevate cooperation in the medical sector as well and play a more responsible role in the global community by raising its ODA fund to US$5 billion next year from the current $3.4 billion.
The finance minister also asked Africa to support South Korea’s bid to host the 2030 World Expo in its southeastern city of Busan.
(Yonhap)
