South Korea and Equatorial Guinea Strengthen Economic Ties Ahead of Korea-Africa Summit

Key Takeaways

• South Korea and Equatorial Guinea have deepened economic cooperation on infrastructure.
• Equatorial Guinea expressed trust in Korean companies and seeks more participation.
• South Korea has been intensifying efforts to strengthen ties with African nations.
• Cooperation aims to diversify South Korea's economic and diplomatic relationships.
• Discussions also cover aligning positions on North Korea issues.

South Korea and Equatorial Guinea are deepening their economic cooperation , with a focus on infrastructure projects and the upcoming Korea-Africa summit in Seoul. Foreign Minister Cho Tae-yul recently held talks with his Equatorial Guinean counterpart, Simeon Oyono Esono Angue, to discuss matters of mutual interest and align their positions on issues related to the Korean Peninsula.

During the meeting, Cho highlighted the active involvement of Korean companies in major infrastructure projects in Equatorial Guinea, such as the Bata International Airport. Esono Angue expressed his country's "great trust" in Korean companies and their advanced technology and capabilities. He also conveyed his expectation to see more Korean companies participating in projects in Equatorial Guinea.

The talks come as South Korea intensifies its efforts to strengthen ties with African nations. Equatorial Guinea's President Teodoro Obiang Nguema Mbasogo is set to attend the first-ever Korea-Africa summit in Seoul from June 4-5, 2024. Cho expressed appreciation to Equatorial Guinea for confirming the president's attendance at the summit.

Why this matters: The economic cooperation between South Korea and Equatorial Guinea reflects South Korea's strategy to diversify its economic and diplomatic relationships, particularly in Africa. The deepening ties are part of South Korea's efforts to play a more active role in global affairs and expand its influence beyond its traditional spheres of interest.

In addition to the talks with Equatorial Guinea, South Korea has been engaging with other African countries in preparation for the Korea-Africa summit. First Vice Foreign Minister Kim Hong-kyun recently visited Kenya and Mauritius as a special presidential envoy to garner support for the summit.

The strengthening of economic ties between South Korea and Equatorial Guinea comes at a time when South Korea is also contending with security challenges on the Korean Peninsula. Cho and Esono Angue engaged in discussions to align their positions on North Korea issues, underscoring the importance of cooperation on both economic and security fronts.