By Diplomacy Journal Lee Kap-soo

The economic cooperation with the Republic of South Africa (RSA) is expected to be invigorated. RSA is the largest economy in Africa and one of the emerging markets among the Global South countries.

The Ministry of Trade, Industry and Energy (MOTIE) held the Korea-South Africa Insight Forum in collaboration with the South African Embassy in Seoul to expand cooperation with RSA, this year's host to G20 Summit on 17 September at the Diplomacy Center located in Yangjae-dong.

The upcoming G20 trade and investment ministerial meeting to be held on 10 October and the G20 Summit scheduled from 22 to 23 November will serve as a momentum to promote the intergovernmental exchange by high-ranking officials from ROK and RSA. Therefore, the participants in the forum discussed various areas for cooperation including manufacturing, supply chain, energy, critical minerals, and infrastructure development.

In particular, as RSA has recently been focusing on modernization of power infrastructure and supply of clean energy to stabilize power supply and conduct energy transition, Korea is highly likely to cooperate with RSA since Korea holds excellent capability in technologies especially for power generation facility, grid, ESS (Energy Storage System).

RSA is also rich in critical minerals, with its production of platinum, manganese, and chrome ranking first in the world. Therefore, a possibility to cooperate in supply chain of critical minerals was also explored in the forum.

Kim Jong-chul, Director General, bureau of International Trade relations at MOTIE, said “RSA is the gateway for Korea to expand cooperation with Africa. This year’s G20 Summit will serve as a momentum for Korea to seek ways to cooperate with RSA in areas including trade, investment, industry and energy.”

In response, Ms. Sindi Mququ, South African Ambassador to Korea said “Through South Africa’s G20 Presidency, we are mobilising finance for Just Energy Transition and harnessing critical minerals for inclusive growth and development. Therefore, South Africa-South Korea collaboration is of critical importance and mutually beneficial”.