1. The Korean government intends to strengthen economic cooperation between Korea
and three African countries (Ethiopia, Uganda, Cameroon ) in such fields as energy, 
resources, infrastructure, the manufacturing sector, financial sector and development by 
dispatching a delegation to the three African countries on January 19-29, 2011.

ㅇ Head of delegation: Kim Eun-seok, Ambassador for Energy and Resources

ㅇ Delegation (23 members): Government officials from the Ministry of Foreign Affairs and 
Trade, Ministry of Knowledge Economy, Korea Resources Corporation, Export and Import 
Bank of Korea, Korea Institute of Geoscience and Mineral Resources, people from government 
enterprises and private businesses, and researchers from national research institutes

2. Due to its vast reserves of natural resources and high growth potential, the African 
region is strategically very important for Korea  in terms of enhancing resource cooperation 
and securing a new emerging market.

※ The region holds 10% of global oil reserves and 8% of global natural gas reserves. It 
also has ample reserves of various minerals such as platinum and uranium.

※  Europe’s population is expected to decline by 60 million by 2050. However,  Africa’s 
population is projected to increase by 900 million – about twice the current population of 
1 billion - by 2050.

ㅇ In particular, the region has maintained a growth rate of 5% since 2000 thanks to the 
decrease in civil wars and increased political stability. The economy is expected to more 
than double by 2020. 

※ According to Global Insight,  Africa’s collective GDP is projected to grow from $1.7 
trillion (2010) to $3.6 trillion (2020).

3.  To achieve a GDP per capita of $30,000~40,000, it is very important for Korea  to 
become a global business power, and strengthen and expand economic cooperation with 
emerging countries. In particular, the Korean government and private businesses must 
advance into the African market with a good understanding of  Africa and a well organized 
system.

ㅇ The delegation plans to pursue win-win economic cooperation with the three African 
countries, which have high growth potential due to their large reserves of natural resources, 
by establishing and implementing joint projects for resource development, infrastructure 
building, and human resources development. The delegation also intends to develop a 
development cooperation model with the three countries.

4. Ethiopia , one of the coalition partner nations during the Korean War, is where the 
embassies of all African countries are stationed. The country is not only the center of 
African politics where many international organizations related to the works in Africa 
are located, but also Korea’s important cooperative partner, which has high growth 
potential due to its vast reserves of untapped resources.

ㅇ Since the East African Rift Valley spreads over seven countries, including Ethiopia, it 
is highly likely that Ethiopia holds precious minerals such as lithium, tantalum, niobium, 
etc, as well as ample reserves of other minerals such as nickel, cooper, iron, etc.

ㅇ The delegation plans to visit the Ministry of Finance and Economic Development, 
Ministry of Mines and Energy, Ministry of Water and Energy, and the Ministry of Trade 
and Industry of Ethiopia to discuss economic cooperation, joint programs for mineral 
exploration, as well as the expansion of technology support programs in the field of mining.

5. Uganda, which established diplomatic relations with Korea in 1963, is a country whose 
bilateral ties with Korea  have strengthened steadily along with reinforced economic 
cooperation. The bilateral ties are expected to grow even stronger in the future.

ㅇ Despite Uganda’s vast reserves of metal and non-metallic minerals, the country has 
not been able to make good use of the resources due to the absence of systemized R&D. 
Thus, there is a high possibility of resource cooperation for Korea  in this aspect.

ㅇ The delegation plans to hold a meeting with Vice President Gilbert Bukenya of Uganda 
and visit the Ministry of Foreign Affairs, Ministry of Energy, Ministry of Lands, Housing and 
Urban Development, Ministry of Tourism, Trade and Industry, Ministry of Finance Planning 
and Economic Development, and other institutions of Uganda to discuss ways to enhance 
economic cooperation and exchange ideas.

6. The delegation also plans to make a state visit to Cameroon to meet with Prime Minister 
Philemon Yang of Cameroon and visit the Ministry of Economy Planning and Regional 
Development, Ministry of Industry, Mines and Technological Development, Ministry of Public 
Works, Ministry of Urban Development and Housing, Ministry of Energy and Water Resources, 
and other government organizations to discuss ways to enhance economic cooperation 
between the two countries.

ㅇ Cameroon, which is known as the logistics center of west and central Africa, has high 
growth potential due to its high quality human resources and vast reserves of natural 
resources.

ㅇ Although Cameroon is 2.2 times larger than the Korean Peninsula, it has only issued two 
mining rights so far. Thus, the Korean government believes that there is a great chance 
for Korean companies to advance into the field of mineral exploration in Cameroon . The 
government also believes that Korean companies will be able to advance into the Cameroon
market by implementing an infrastructure building project in relation to resource development
since the Cameroon  government is in the process of building transportation systems such 
as railways and harbors in order to facilitate mineral resource exports.

※ The Cameroon government established a long-term economic development plan entitled 
“Vision 2035” in 2009. Since then, it has been pursuing economic development by exploring 
natural resources and building infrastructure including roads, railways and harbors.

ㅇ As we can see from the recent case in which C&K, a Korean company, signed a contract 
with the Cameroon  government to explore a diamond mine in Cameroon, it would be effective 
to pursue a cooperation model in which the private sector leads overseas resource development 
projects and the government provides the necessary support.

ㅇ The delegation plans to hold a “Korea-Cameroon Business Meeting” in Yaounde, the capital 
of Cameroon, to provide people from both countries’ private businesses an opportunity for 
discussion. Participants are expected to seek ways to implement specific projects which 
would enhance practical cooperation in the fields of mineral exploration, infrastructure 
building and the manufacturing sector. 

               Spokesperson and Deputy Minister for Public Relations of MOFAT
 

* unofficial translation