South Korea and African nations are marking 20 years of formal economic cooperation by launching new joint initiatives centered on artificial intelligence and digital infrastructure, according to the Ministry of Economy and Finance. The 8th Korea-Africa Ministerial Economic Cooperation Conference (KOAFEC) is scheduled to run for four days from September 8 to 11 at the Grand Walkerhill Seoul hotel in Gwangjin-gu, according to joint organizers including the Ministry of Economy and Finance, the African Development Bank (AfDB), and the Export-Import Bank of Korea.
Meeting Focuses on AI and Digital Transformation
The conference operates under the theme “Africa’s Great Transformation Utilizing AI and Digital Infrastructure,” according to announcements from the Ministry of Economy and Finance. The African Development Bank estimates that the widespread adoption of artificial intelligence could generate up to $1 trillion in additional gross domestic product across the African continent by 2035. Government planners intend to combine South Korea’s capabilities in artificial intelligence and information and communications technology with Africa’s growth potential and demand for innovation, facilitating digital transition and creating new bilateral growth opportunities.
High-Level Attendance and Core Project Areas
Delegations including finance ministers from 54 African nations, information and communications technology ministers from key countries, the president and board of directors of the African Development Bank, and representatives from international organizations and private enterprises are invited to attend, according to the Ministry of Economy and Finance. Participants will focus on building artificial intelligence and digital foundations, deploying the “K-AI Package” which applies South Korean artificial intelligence solutions to key sectors like health, agriculture, and education, and sharing policy experiences in public service innovations such as digital identity systems and intelligent administration.
Exhibitions and Business-to-Business Opportunities
The event schedule features ministerial sessions alongside a business innovation forum, specialized seminars, one-on-one business meetings, exhibition booths, and investment briefing sessions, according to event organizers. Exhibition booths will introduce artificial intelligence solutions and data center operators to source new project demand, while investment briefing sessions will feature governments from key nations such as Kenya and Tanzania presenting investment opportunities directly to South Korean corporations.
Evolution of the KOAFEC Framework
Established in 2006, the Korea-Africa Ministerial Economic Cooperation Conference serves as an economic cooperation platform designed to foster high-level policy dialogue and uncover development projects between South Korea and African countries, according to government records. Seoul has historically translated cooperation agendas into actual projects through the KOAFEC trust fund, knowledge sharing, and private sector exchanges. A Ministry of Economy and Finance official stated that Africa represents the youngest continent globally and an essential partner for mutual growth, noting that the 20th-anniversary meetings aim to move beyond cooperation toward shared prosperity by strengthening reciprocal partnerships in digital technology.
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