Korea-Libya Economic Cooperation Forum Held to Support Business Expansion

The Ministry of Foreign Affairs and the South Korean Embassy in Libya announced that they co-hosted the '2026 Korea-Libya Economic Cooperation Forum' in Tripoli on September 27-28 (local time).

This event was organized as part of the Ministry's initiative to support South Korean companies' entry into the Middle East and secure construction contracts. It marks the first economic forum held by the South Korean government in Libya since the civil war in 2014.

Approximately 150 participants attended the forum, including representatives from both governments, public institutions, and businesses. South Korean companies such as Samsung Electronics, LG Electronics, Hyundai Engineering & Construction, Daewoo Engineering & Construction, and Hyundai Heavy Industries were present, along with representatives from Libya's Ministry of Economy and Trade, Electricity Authority, Housing and Infrastructure Authority, and the Chamber of Commerce Federation.

Participants discussed ways to expand cooperation beyond energy and infrastructure to include digital technology and healthcare, linking South Korea's industrial and technological capabilities with Libya's development needs. They also assessed business demands and local conditions through consultations between companies and meetings among institutions.

Yoon Young-ki, a senior official at the Ministry of Foreign Affairs' Africa and Middle East Bureau, expressed hope that the forum would serve as a starting point for identifying specific business opportunities and fostering mutually beneficial economic cooperation between the two countries. Suhail Abu Siha, Libya's Minister of Economy and Trade, emphasized the need to increase trade and investment while strengthening cooperation in infrastructure, transportation, and digital commerce.

The event also marked the first use of an AI simultaneous interpretation service developed by a South Korean small and medium-sized enterprise. The Ministry of Foreign Affairs plans to support follow-up discussions between institutions and companies in both countries following the return of the South Korean Embassy to Tripoli in June.