Cooperation for the Successful Hosting of the June 'Korea-Africa Summit'
President Yoon Suk-yeol shakes hands with President Jo?o Louren?o of Angola at the expanded Korea-Angola summit held on the 30th at the Presidential Office in Yongsan, Seoul. [Image source=Yonhap News]
On the morning of the 30th, President Yoon Suk-yeol held a summit meeting with President Jo?o Louren?o of Angola at the Yongsan Presidential Office, discussing ways to enhance cooperation in areas such as trade, investment, shipbuilding, and energy.
President Louren?o arrived in South Korea on the 28th for a three-day official visit. This marks the first bilateral visit by an Angolan president in 23 years. The two countries established diplomatic relations in January 1992. President Louren?o, a former military general, visited South Korea for the first time since taking office in 2017.
In his opening remarks, President Yoon said, "This visit is especially significant as it is the first by an Angolan president in 23 years," adding, "I am pleased to meet President Louren?o, who leads Angola’s development and African stability with outstanding leadership and strong public support." President Yoon explained, "South Korea and Angola have maintained a friendly cooperative relationship since establishing diplomatic ties in 1992," and noted, "In 1995, South Korea dispatched an engineering unit as part of the UN peacekeeping forces to support Angola’s reconstruction."
He continued, "Angola is rich in natural resources and has a high proportion of young population. South Korea possesses excellent technological capabilities and economic development experience," and expressed hope that "today’s summit will deeply discuss ways to further expand mutual cooperation based on the strengths of both countries."
President Louren?o said, "I am very pleased to visit such a wonderful city as Seoul," and mentioned, "The First Lady accompanied me." He emphasized, "Since South Korea has experienced rapid development in a short period, we intend to learn from that. If Angola can share in South Korea’s development experience, I believe we can achieve even stronger economic cooperation."
He also stated, "Regarding conflicts around the world, it is appropriate to resolve them through international cooperation," and added, "I understand that South Korea faces security issues on the Korean Peninsula. I believe these conflicts will be well resolved through communication among the people."
Angola is the second-largest oil-producing country in sub-Saharan Africa and is rich in mineral deposits such as diamonds and iron ore. South Korea and Angola signed a Memorandum of Understanding (MOU) on the Trade and Investment Promotion Framework (TIPF) to expand mutual trade and investment, and agreed to establish a customized economic cooperation platform reflecting Angola’s growth potential and abundant energy and resources.
Furthermore, they agreed to lay the groundwork for expanding South Korean companies’ participation in projects such as solar power plant construction, and to broaden development cooperation into new areas including education, agriculture, fisheries, and customs administration. From this year until 2028, they plan to promote negotiations for a basic agreement on the Economic Development Cooperation Fund (EDCF) worth 1 billion USD to support various infrastructure projects in Angola.
The two countries also shared the view on the necessity of international cooperation to thoroughly implement United Nations Security Council resolutions in response to North Korea’s nuclear and missile development and provocations. The Presidential Office reported that they agreed to strengthen cooperation for the successful hosting of the 'Korea-Africa Summit' scheduled for June in South Korea.
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