The Ministry of Industry, Trade and Energy of South Korea announced that it held today, Wednesday in Seoul, the first meeting of the Promotion Committee for Economic Cooperation between Korea and Africa, in preparation for the Korea-Africa Summit to be held on June 4 and 5.

Today's meeting was attended by representatives of 18 Korean economic institutions and authorities, including the Trade Association, the Trade and Investment Promotion Agency, the Electricity Corporation, the Industrial Technology Development Institute, and the Association of Industrial Units.

On the sidelines of the Korea-Africa Summit, a Business Summit will be held bringing together government officials, businessmen, and economic experts to discuss issues of common interest, such as industrial development, increasing trade exchanges, ways to improve infrastructure and agricultural productivity, and responding to climate change.

The Korean government plans to invite officials from about 50 African companies to attend the trade consultations to be held on the sidelines of the Korea-Africa Summit to explore new cooperation opportunities in promising fields including basic minerals, energy, and infrastructure.

Korean Trade Minister Chung Eui-kyu confirmed that the Promotion Committee for Economic Cooperation between Korea and Africa will be a bridge for economic cooperation between the two regions so that Korean companies can advance into African markets and enhance cooperation with their African counterparts.