President Yoon Suk Yeol expressed hope that South Korea will establish a critical mineral partnership with major African nations to expand mutually beneficial cooperation. 

The president made the remarks on Wednesday in his keynote speech for the 2024 Korea-Africa Business Summit at a hotel in Seoul, stressing the importance of the role of Africa amid growing uncertainties in global supply chains due to geopolitical risks. 

On Tuesday, South Korea and 48 African nations agreed to launch a dialogue on critical minerals at the inaugural Korea-Africa Summit presided over by President Yoon.

At the business summit, attended by some 400 people, Yoon thanked businesspeople’s contribution to the partnership between South Korea and Africa, saying that their entrepreneurship formed a valuable foundation for the partnership.

The president vowed to set up Economic Partnership Agreements(EPA) and Trade and Investment Promotion Frameworks(TIPF) with more African countries to facilitate smooth trade and investment activities for businesses. 

He also pledged to seek "tailored” development cooperation to meet the demands of the beneficiaries of South Korea’s Official Development Assistance(ODA).