The first Korea-Africa Summit concluded on June 6, 2024 in Seoul with the adoption of a landmark joint declaration titled “The Future We Make Together: Shared Growth, Sustainability, and Solidarity.” This groundbreaking event brought together the Heads of State and Government of African nations, the President of the Republic of Korea, and representatives from the African Union and the African Development Bank (AfDB).
The summit underscored the evolution of Korea-Africa relations, which trace back to the 1950s during the Korean War. The declaration highlighted the necessity for a new strategic cooperation framework built on mutual trust and shared historical experiences. Both parties acknowledged the need for strengthened relations in light of current global challenges such as climate change, conflicts, food and energy crises, and supply chain disruptions.
Key to the declaration is the emphasis on shared growth. Both regions acknowledged the significant potential for cooperation, with Korea committed to supporting Africa’s industrialization. The summit stressed the importance of enhancing economic frameworks like Economic Partnership Agreements (EPAs) and Double Taxation Avoidance Agreements (DTAAs). Korea pledged to share its expertise from concluding numerous Free Trade Agreements (FTAs) to aid Africa’s efforts in establishing a single market through the African Continental Free Trade Area (AfCFTA).
Furthermore, the summit recognized the critical role of building quality infrastructure, including roads, railways, and smart cities, to boost Africa’s economic development. Korea’s experience in digital technology was also highlighted, with commitments to integrate these technologies into various sectors such as agriculture and healthcare.
On sustainability, the summit addressed urgent issues like climate change, food insecurity, and health crises. Both sides committed to advancing cooperative endeavors in climate action, promoting clean energy, and enhancing food security through advanced agricultural technologies. Korea expressed support for Africa’s efforts in sustainable development, including climate finance and land conservation.
The declaration also highlighted the need for a unified response to health crises, emphasizing cooperation in healthcare infrastructure, vaccine access, and disease surveillance. Recognizing Africa’s rich mineral resources, the summit launched the Korea-Africa Critical Minerals Dialogue to ensure a stable supply of critical minerals essential for future industries.
Solidarity formed the third pillar of the declaration, with a focus on peace and stability as essential for Africa’s vision of prosperity. Korea committed to enhancing cooperation in defense and public security, supporting African peace operations, and counterterrorism efforts.
The summit also called for increased people-to-people exchanges to foster mutual understanding and collaboration. Plans were laid out to boost exchanges in culture, education, and tourism, alongside enhancing air connectivity and collaboration between local governments and research institutions.
To support these ambitious goals, Korea pledged to expand Official Development Assistance (ODA) to Africa up to $10 billion by 2030, alongside $14 billion in export financing to encourage Korean businesses to invest in Africa.
The declaration also established mechanisms for regular review and support of summit commitments, including high-level consultative bodies and a mid-term Foreign Ministers’ Meeting in 2026.
The joint declaration from the Korea-Africa Summit marks a significant step towards a future of shared growth, sustainability, and solidarity, setting a robust foundation for deepened cooperation between Korea and Africa in the years to come.
