Korean Startup Entrepreneurs Encouraged to Launch Africa-related Business

The Ministry of Foreign Affairs, along with the Korea-Africa Foundation, will host the "Korea-Africa Youth Forum" and the "Seoul Dialogue on Africa" at the Lotte Hotel in Sogong-dong, Seoul, from Dec. 4-5.

The events aim to help Korean youth and entrepreneurs build presence in Africa and increase people’s understanding of Africa.

The Korea-Africa Youth Forum will take place on Dec. 4 under the theme “Entrepreneurs for Innovative Partnership.” Presentations will be made on the startup environment in key African countries, successful Korean startups operating in Africa, and the Korean and African youth innovators.

The forum will be helpful for Korean young entrepreneurs planning to start an Africa-related business.

The keynote speakers at the forum include Deputy Minister for Economic Affairs of the Foreign Ministry Yun Kang-hyeon and Africa Union Commissioner for Trade and Industry Albert M. Muchanga.

"The Korea-Africa Youth Forum is intended to encourage young people to set up global startups by introducing the potential that Africa has as a new startup market, and by increasing exchanges between Korean youth and African youth staying in South Korea," the ministry said.

Meanwhile, the Seoul Dialogue on Africa, to be held on Dec. 5, is the first international academic conference on Africa since the establishment of the Korea-Africa Foundation. At the conference, Africa experts from home and abroad will discuss key political, economic and social issues in the African region, and make predictions about the situation in the region for the year 2019.

The meeting takes place to raise people’s awareness of Africa in South Korea; to gather policy proposals to build a Korea-Africa strategic partnership; and to facilitate research on Africa in the South Korea by strengthening networks between Africa researchers. The Foreign Ministry will make efforts to develop the meeting into an annual international academic conference.

At the meeting, Albert M. Muchanga will speak about the African market and investment opportunities offered by the launch of the African Continental Free Trade Agreement (AfCFTA), aimed at creating the world’s largest single market (1.2 billion population).