About KOAFEC

KOAFEC

The Korea-Africa Economic Cooperation (KOAFEC) Conference was established in 2006 as a major platform to drive Korea’s development initiatives in Africa, and has since evolved into a biennial event. The KOAFEC secretariat facilitates and coordinates development programs, while the Consultative Group, comprised of African Development Bank’s Executive Directors, provides advices to the secretariat and reviews the Action Plan. The KOAFEC aims to deliver concrete results through technical assistance and investment projects identified in its Action Plan in 6 main cooperation areas, namely: energy and infrastructure, ICT, human resources development, agricultural development, green growth support, and sharing of Korea’s development experiences. The two main building blocks of the KOAFEC Conference are the Ministerial Round Table and the Business Forum.

Ministerial Round Table

The Ministerial Round Table is the largest inter-governmental gathering represented at the highest level, bringing together Ministers from African countries, African delegations (key figures of government ministries), and international organizations in Africa. The Round Table provides a platform to promote high-level policy dialogue on Korea-Africa cooperation.

Business Forum

The private sector is widely acknowledged as a key partner in development. Starting from the fifth KOAFEC Ministerial Conference held in 2016, Public-Private Partnership (PPP) Forum brought together business representatives from Korea and Africa alongside governments. At the upcoming 2023 KOAFEC conference, the PPP forum is renamed into the Business Forum to address the increasing role of the private sector, and incorporate their sector specialties into the development community.

History of the KOAFEC Conference

1. March, 2006
   Announcement of “Korea Initiative for African Development" - Promote economic cooperation in Africa, which is emerging as a significant driver of growth in the global community
2. April, 2006
   1^st KOAFEC Ministerial Conference - Composition of KOAFEC Consultation Group
   - Announcement of a joint statement requesting institutional arrangements to maintain cooperative momentum and continue KOAFEC’s operation
3. October, 2008
   2^nd KOAFEC Ministerial Conference - Significantly contributed to the vitalization of economic cooperation between Korea and Africa such as establishing the basis for Korea-Africa resource diplomacy
   - 2008 KOAFEC Seoul Initiative adopted and 2009/10 KOAFEC Action Plan finalized
4. July, 2010
   3^rd KOAFEC Ministerial Conference - Announcement of government-wide comprehensive “Korea-Africa Economic Cooperation Revitalization Plan”
5. October, 2012
   4^th KOAFEC Ministerial Conference - Held during the Korea-Africa Cooperation Week to maximize the impact of connecting events related to Africa organized by Korean Ministries
   - 2012 KOAFEC Joint Declaration adopted and 2013/14 KOAFEC Action Plan finalized
6. 2014
   Postponed due to the Ebola outbreak in West Africa
7. October, 2016
   5^th KOAFEC Ministerial Conference - Expanded into a public-private consultative body by inviting the CEOs of major private companies in Africa, along with the phrased introduction of the KOAFEC Public-Private Cooperation Forum
   - 2016 KOAFEC Joint Declaration adopted and 2017/18 KOAFEC Action Plan finalized
8. May, 2018
   6^th KOAFEC Ministerial Conference - Held on the sidelines of the AfDB Annual Meeting in Busan to expand cooperation between Korea and Africa
   - 2018 KOAFEC Joint Declaration adopted and 2019/20 KOAFEC Action Plan finalized
9. September, 2023
   7^th KOAFEC Ministerial Conference - Plan to be held in Busan with the topic “Embracing a Sustainable Future: Just Energy Transition and Agricultural Transformation in Africa”