Korea Eximbank Engages Ten African Nations to Boost Development Projects and Korean Investment
Korea Eximbank chief Hwang Ki-yeon met officials from ten African countries in Seoul to discuss development financing and opportunities for Korean firms.
At the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference in Seoul, Hwang Ki-yeon, chairman and CEO of the Export-Import Bank of Korea, conducted a series of meetings with senior officials from ten African states, including Botswana’s vice president and finance ministers from Tanzania, Kenya, Rwanda, Ghana, Egypt, Uganda, Zimbabwe, Lesotho and Sierra Leone. The agenda covered each country’s development needs and the possibility of financing projects through the Economic Development Cooperation Fund, with a highlighted initiative to build an AI and digital technology training institute in Tanzania—the fund’s first AI-sector project.
Korea Eximbank also hosted an investment briefing that brought together African Development Bank representatives, Kenyan and Tanzanian officials, Ghanaian investment agencies, and Korean AI chipmakers FuriosaAI and Rebellions to showcase digital-infrastructure opportunities. Hwang emphasized that the KOAFEC platform is expanding cooperation in AI, digital tech, culture and supply chains, aiming to translate government agreements into concrete projects and business prospects for Korean firms abroad.
Why it matters
The talks could channel Korean financing and technology into African development, deepening economic ties and creating new markets for Korean companies.
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