South Korea to Host Economic Ministerial Meeting with African Nations Focusing on AI

By Kang Yoon-seung

SEJONG, Aug. 13 (Yonhap) -- South Korea will host an economic ministerial meeting with African nations next month under its vision to expand cooperation in the artificial intelligence (AI) sector with the emerging continent, the finance ministry said Thursday.

The Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference will kick off in Seoul for a four-day run on Sept. 8, the Ministry of Finance and Economy said. The event will be co-hosted by the Export-Import Bank of Korea and the African Development Bank (AfDB).

Under the theme "Harnessing AI and Digital Infrastructure for Africa's Transformation," South Korea will seek to foster new opportunities to propel growth in Africa, building on the nation's competitiveness in AI and information and communications technology (ICT).

Finance ministers from 54 African nations, along with other senior ICT officials and AfDB leaders, have been invited to the event.

The participants are set to hold discussions on a wide array of areas, including building foundations for AI and digital industries, along with applying South Korea's AI solutions to healthcare, agriculture and education.

On the sidelines of the event, the organizer will also arrange ministerial-level meetings, business forums, seminars and investment presentations, the finance ministry said.

The KOAFEC is a high-level economic cooperation consultative body between South Korea and Africa launched in 2006 to promote exchanges and identify development cooperation projects.