KOTRA and the Ministry of Trade, Industry and Energy (MOTIE) have launched a month-long series of regional economic cooperation programs across Africa, aligned with the 2025 G20 Summit in South Africa scheduled for November 22–23. The initiative aims to strengthen Korea–Africa business partnerships and accelerate the entry of Korean companies into rapidly growing African markets.
Africa has emerged as one of the world’s most dynamic consumer markets, with a population of 1.5 billion and 60% under the age of 25. The continent’s first G20 Summit signals its shift from a “land of potential” to both the present and future engine of the global economy. As global supply chains are restructured and uncertainties persist, Korean companies are seeking new strategic markets—and Africa is increasingly becoming a critical alternative.
Despite strong prospects, Africa currently accounts for only 1.4% of Korea’s total exports, valued at USD 7.88 billion as of October 2025. Yet the continent’s population is projected to exceed 1.7 billion by 2030, and GDP growth is expected to reach 3.5% this year, with several countries growing between 7% and 11%. Demand for consumer goods, medical products, and food continues to surge. The region also holds vast reserves of critical minerals such as cobalt and lithium, which are essential for advanced manufacturing. Korean companies are moving beyond raw-material sourcing and are now building circular value chains through long-term offtake agreements, local processing, and recycling, enhancing supply chain resilience and mutual investment.
KOTRA Leads Eight-Key-Nation Roadshow Spanning Africa Through Mid-December
Under KOTRA’s coordination, major business events are being held in eight key African markets—South Africa, Egypt, Ghana, Côte d'Ivoire, Kenya, Ethiopia, Mozambique, and Tanzania—through mid-December. More than 120 Korean companies and over 270 African companies are participating in sector-specific seminars and B2B consultations targeting energy, plant, healthcare, and consumer goods industries. The goal is to translate economic cooperation agendas into tangible business results including contracts and MOUs.
Infrastructure and energy have been identified as priority collaboration areas where Korea’s industrial competitiveness aligns with Africa’s strong development needs. In South Africa, Korean companies engaged in one-on-one consultations with 73 local businesses. A Korean smart-agritech company signed three MOUs involving satellite-based agricultural solutions, noting stronger-than-expected demand for smart farming technologies. The Industrial Development Corporation of South Africa emphasized the importance of Korean participation in a range of PPP projects for energy and urban infrastructure upgrades.
In Egypt, 21 major project owners—including large EPC companies—participated in meetings with Korean suppliers. Egyptian industry representatives highlighted the strong technical performance and cost competitiveness of Korean equipment. The Arab Organization for Industrialization (AOI) commented that this initiative marks “a launch point for shaping a sustainable industrial future through Korea–Egypt cooperation.”
Korean consumer goods are also gaining momentum across the continent. K-beauty and Korean food products were the focus of active business discussions in South Africa, Côte d'Ivoire, and Ghana, resulting in 13 signed contracts and MOUs. Forty-four K-beauty companies staged product showcases and built direct connections with key local distributors, who reported that premium demand is rapidly rising among African consumers. Agricultural cooperation is advancing as well, with a South African citrus management company and a Korean firm signing an MOU to co-develop new premium citrus varieties for distribution in African and European markets.
To expand reach into distant regions where on-site participation is challenging, KOTRA will hold additional online business consultations in five countries, including Tanzania, for two weeks starting late November.
Looking ahead, KOTRA plans to extend its Africa support initiatives beyond the G20 Summit. In 2026, the agency will promote its “Top 10 Strategic Projects” support program and expand the “Project Plaza in Africa,” linking Korean companies with development finance institutions and regional governments to ensure sustainable and stable market entry. KOTRA President Kang Kyung-sung stated that Africa “is no longer a future opportunity—it is already a fast-growing engine of global business,” emphasizing a firm commitment to strengthening supply chain cooperation, project partnerships, and the expansion of K-consumer goods across the region.
