A research institute under the Korea International Trade Association(KITA) forecast an agreement to cooperate in the mineral energy sector will be reached at the Korea-Africa Summit set to be held in Seoul from Tuesday to Wednesday next week.

In a report on Wednesday, KITA's Institute for International Trade said priority is being placed on the two sides' cooperation in mineral energy and it proposed ways to vitalize comprehensive economic cooperation with African countries.

As South Korea relied on imports for around 95 percent of its industrial minerals as of last year, the report said it could increase the stability of its supply of minerals through the construction of related facilities in Africa and participating in multilateral organizations related to resource development.

The institute called for a customized development strategy in new renewable energy for each African nation, such as Algeria, Libya, Sudan and Morocco for solar energy, Niger and Egypt for wind energy and Ethiopia, Mozambique and Zambia for water energy.
 
The Korea-Africa Summit will be the first multilateral summit hosted by South Korea for multiple African nations, with participation by delegates from over 45 countries.