The 2026 Korea-Africa Business Forum was held Tuesday at Lotte Hotel Seoul in central Seoul, bringing together about 300 government officials, diplomats and business leaders from South Korea and African countries.
The forum was hosted by the Ministry of Foreign Affairs, jointly by the Korea-Africa Foundation, the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea International Trade Association (KITA), and Yonhap News Agency.
In his opening remarks, Foreign Minister Cho Hyun underscored the growing strategic importance of Africa amid global energy and supply chain challenges, emphasizing the need for “mutual prosperity and shared growth” between Korea and Africa.
“The Korea-Africa Foreign Ministers’ Meeting held yesterday provided a valuable opportunity to review the achievements made since the 2024 Korea-Africa Summit and discuss a future vision for cooperation,” Cho said.
The forum featured keynote speeches by Sung Kim, President for Strategic Planning at Hyundai Motor Company, and Wamkele Mene, Secretary-General of the African Continental Free Trade Area.
The first session, titled “Driving Synergies through Korea-Africa Economic Cooperation: From K-Content to New Markets,” explored opportunities to deepen economic ties and expand business collaboration between Korea and African countries.
The session was moderated by Caitlin Nash, CEO of Golden Thread Markets in South Africa.
Speakers included Kim Myung-hee, Executive Vice President of KOTRA; Jung Tawon, Head of the Sub-Saharan Africa Region at Daewoo Engineering & Construction; Caleb Maru, CEO of Tech Safari in Kenya; and Nana Aba Anamoah, a Ghanaian media personality and founder of Women of Valour.
The latter half of the forum shifted focus from diplomacy to practical business cooperation, with speakers highlighting Africa’s growing potential as a strategic market for Korean industries.
During a special dialogue session on the future of Korea-Africa business ties, Victor Lawrence Villacisety, chairman and CEO of Villacisety, argued that Africa should no longer be viewed solely as a source of raw materials, describing the continent instead as an emerging center for global innovation and industrial growth.
The Ghanaian businessman introduced his company’s large-scale smart industrial city project near Accra and said he plans to create a “K-Tech Town” within the development to help Korean companies establish a foothold in Africa with fewer risks and greater institutional support.
The forum’s third session brought together senior African officials for discussions on cooperation in critical minerals and energy — sectors expected to become increasingly important amid the global supply chain race.
Foreign ministers from Gambia, Tunisia and Rwanda, along with Mozambique’s minister for planning and development, called for a more equal partnership model between Korea and African nations. Rather than limiting cooperation to resource extraction, they stressed the need for joint participation in development projects and a fairer sharing of economic gains.
Beyond the conference hall, the event also served as a showcase for Korean consumer brands targeting Africa’s fast-growing markets.
K-beauty and K-food exhibition booths installed at the entrance of the venue drew heavy attention from African delegates and business participants. Ten Korean companies selected through a highly competitive screening process displayed products tailored to local demand, including hair care products designed for African consumers, vegan cosmetics, premium Korean tea and health drinks.
“Because many parts of Africa have dry climates, a lot of people showed interest in moisturizing products,” Sohn said. She added that while the company currently exports only to Tanzania, “African visitors showed much greater interest than we had expected today, so I believe demand in Africa will continue to grow in the future.”
Dana Mopulunga, CEO of South African pharmaceutical company Bernika Health, said the forum made her feel that “there are a lot of opportunities” for economic cooperation between Korea and Africa.
She added that she plans to visit Korea again to further discuss business cooperation with Korean partners.
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