Kang Kyungseong, President of KOTRA: "Africa Is a Land of Opportunity, We Must Develop It as a Strategic Market"

Africa Trade and Investment Expansion Strategy Meeting
Head Office and Trade Center Chiefs Review Export Support
Emerging as a Promising New Market for Korean Exports

"Amid the ongoing reorganization of the global economic order, Africa is a land of opportunity. We must now develop Africa not as a potential market, but as a breakthrough and a key strategic market for Korean exports."

Kang Kyungseong, President of KOTRA (Korea Trade-Investment Promotion Agency), emphasized this point on the 30th while presiding over the Africa Regional Trade and Investment Expansion Strategy Meeting in Cape Town, South Africa. President Kang, together with the heads of eight regional KOTRA offices in Africa, focused on reviewing export support strategies and identifying ways to transform Africa into a core export market in response to the rapidly changing trade environment and supply chain restructuring.

With the recent rise of global protectionism and supply chain reorganization, the need to diversify export structures has become more urgent, making it essential for Korean companies to find new export breakthroughs. As of last year, Korea's exports to sub-Saharan Africa accounted for only 1.4% of its total exports, but some countries have shown double-digit or higher growth rates. In particular, Rwanda (498%), Ethiopia (84%), Angola (49%), Senegal (46%), and Tanzania (32%) are emerging as promising new markets.

Sub-Saharan Africa is the world's fastest-growing population region, with a population of 1.25 billion as of this year and a projected 2.5 billion by 2050. Notably, 59% of the population is under the age of 25, creating expectations for demand growth in various industries such as consumer goods, food, and healthcare, thanks to its young demographic structure.

Kang Kyungseong, President of KOTRA (left), is speaking at the '2025 Africa Regional Trade and Investment Expansion Strategy Meeting' held in Cape Town, South Africa, on the 30th. KOTRA.

Based on this growth potential, KOTRA plans to accelerate Korean companies' entry into Africa's strategic markets. To this end, KOTRA is forming the "One Team Korea Export Platform" in collaboration with export-related organizations such as the Korea International Trade Association and Korea Trade Insurance Corporation, as well as leading companies that have already succeeded in entering the local market. This platform aims to support both the entry of domestic companies into Africa and the joint growth of SMEs. In particular, the One Team Korea system is being operated with a focus on major export items such as power equipment, shipbuilding, medical bio, and nuclear power equipment. A concentrated support system is already in full operation, providing one-stop assistance from responding to client needs to business meetings, consulting, and follow-up management.

KOTRA is also expanding strategic footholds for entry into Africa through government-led development cooperation projects such as Official Development Assistance (ODA), Knowledge Sharing Program (KSP), and Economic Innovation Partnership Program (EIPP). Recently, KOTRA has been moving away from traditional ODA approaches based solely on aid, and is establishing a "linked export model" that connects KSP and EIPP to EDCF (Economic Development Cooperation Fund), to exports, and ultimately to localization. This is accelerating the Korea-style development cooperation and export linkage strategy.

Especially in the medical and healthcare sectors, KOTRA is facilitating early relationship-building between local clients and Korean companies through ODA consultants, thereby enabling Korean products to enter the public procurement market. Projects such as the establishment of a green hydrogen strategy in South Africa using KSP, feasibility analysis of gas field utilization in Mozambique, and the development of transportation policy in Kenya are examples that have laid the foundation for long-term cooperation. Securing contact points with local clients through EIPP and close collaboration with KOICA (Korea International Cooperation Agency) and KEXIM (Export-Import Bank of Korea) are also strengthening the public-private export linkage base.

President Kang stated, "Africa is more than just a new market; it is a key partner with which we can design a sustainable future for the Korean economy. We will provide comprehensive support to ensure that Korean companies' entry into Africa proceeds in a more structural and strategic manner."