SEOUL, REPUBLIC OF KOREA, 2 June 2026 — The Korea International Trade Association (KITA), led by Chairman H.E. Jin Sik Yoon, and the African Continental Free Trade Area (AfCFTA) Secretariat, led by Secretary-General H.E. Wamkele Mene, co-hosted the first Korea-Africa Economic Committee (KAEC) Business Roundtable in Seoul. The first official engagement under this framework, it brought together leading companies and institutions from both regions to explore practical areas of cooperation in manufacturing, energy, infrastructure, digital trade, and industrial development.
The KAEC was established following the signing of a Memorandum of Understanding (MOU) between KITA and the AfCFTA Secretariat during the Korea-Africa Business Summit in June 2024. Since then, both institutions have held regular consultations aimed at strengthening commercial and institutional ties between Africa and the Republic of Korea.
The meeting convened 35 companies and organisations from both regions. Representing the Republic of Korea were companies including Hyundai Motor Group, POSCO International, and Samsung Electronics, while the African delegation included actors such as the Pan-African Chamber of Commerce and Industry (PACCI), the power company Eskom, and the OPAIA Group.
KITA Chairman H.E. Jin Sik Yoon stated, “If Korea’s industrial competitiveness is combined with Africa’s growth potential, we will be able to create a future-oriented model of cooperation that draws global attention.” He further noted that, “The KAEC will continue to actively support exchanges between business leaders from both regions and the discovery of cooperative projects.”
Speaking during the roundtable, H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, stated, “The establishment of the KAEC reflects our shared commitment to building practical and mutually beneficial partnerships between Africa and the Republic of Korea.” He added, “As Africa advances the implementation of the AfCFTA, we welcome deeper cooperation in trade, investment, industrialisation, technology, and infrastructure that supports sustainable economic growth and creates opportunities for businesses and people across both regions.”
The roundtable featured a presentation by Dr Mun Su Kang, Research Fellow at the Korea Institute for International Economic Policy (KIEP), titled “Tasks for Korea-Africa Economic Cooperation”. The presentation highlighted opportunities for collaboration in manufacturing and infrastructure, decarbonisation and energy, as well as digital and e-commerce. It further underscored the importance of developing reciprocal supply chains that align Africa’s industrialisation ambitions with Korea’s technological and manufacturing capabilities.
Looking ahead, KITA and the AfCFTA Secretariat expressed their intention to institutionalise the KAEC platform through regular meetings and continued business exchange engagements hosted on a rotational basis across both regions.
About the AfCFTA Secretariat
The African Continental Free Trade Area (AfCFTA) is the flagship project of the African Union’s Agenda 2063. The Agreement establishing the AfCFTA was signed in Kigali in March 2018 and entered into force on 30 May 2019, with trading under the Agreement commencing on 1 January 2021. Fifty-four African Union Member States have signed the Agreement. The AfCFTA Secretariat, headquartered in Accra, Ghana, coordinates the implementation of the Agreement and is headed by Secretary-General H.E. Wamkele Mene.
The Korea International Trade Association (KITA) is one of the largest business organizations in Korea with over 80,000 member companies. It was founded in 1946 to bolster the Korean economy through global trade. It represents the rights and interests of Korea’s business community and serve a diverse range of roles including providing hands-on support to business, promoting private sector trade cooperation, formulating new trade strategies, nurturing trade professionals and building trade infrastructure.
Media Contacts
AfCFTA Secretariat: Mr. Alexandre Siewe Leupi | Senior Advisor Communications | Email:[email protected]|Telephone: +233547666885/ +33755454395 (WhatsApp only)
KITA: Mr. Young Seok Na, Manager of Europe, Middle East and Africa Department | E-mail: [email protected] | Seoul, Republic of Korea
