KITA.ORG

General meeting of Korean members of the Korea - Africa Economic Cooperation Committee

2025.01.22
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KITA (Chairman: Jin-Sik Yoon) held a general meeting of Korean members of the Korea - Africa Economic Cooperation Committee on Wednesday, 22 January at the Grand Intercontinental Hotel in Gangnam-gu, Seoul.


By taking Korea - Africa Summit held in June 2024 as an opportunity, KITA has been preparing the establishment of the Korea - Africa Economic Cooperation Committee to encourage two-way trade and reinforce economic partnership. KITA serves as the Committee's Korean secretariat and plans to support Korean companies to expand their business operations in Africa by setting up communication networks with key economic associations in the African region.


This meeting was attended by Jin-Sik Yoon, the Chairman of KITA, Young-chae Kim, the President of Korea - Africa Foundation and officials from companies with interest in expanding their business operations to Africa, including Hyundai Motors, Posco International and HD Hyundai. In order to properly reflect the diversity of the African region and offer problem-solving advice for potential risks, 30 experts on Africa from relevant institutions, including Europe - Africa Research Institute at Hanyang University and Korea Institute for International Economic Policy, attended the general meeting as members of Korea - Africa Economic Cooperation Committee.


In his opening remarks, Chairman Yoon mentioned, "Setting up a strategic cooperation model for sustainable growth of Korea and the African region is key" and stressed the important role the Korea - Africa Economic Cooperation Committee in this process as the Committee has key companies as members that represent promising industrial sectors and industrial experts.