Seoul: South Korea will host an economic ministerial meeting with African nations next month under its vision to expand cooperation in the artificial intelligence (AI) sector with the emerging continent, the finance ministry said Thursday. The Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference will kick off in Seoul for a four-day run on Sept. 8, the Ministry of Finance and Economy stated. The event will be co-hosted by the Export-Import Bank of Korea and the African Development Bank (AfDB).

According to Yonhap News Agency, the conference will operate under the theme "Harnessing AI and Digital Infrastructure for Africa's Transformation." South Korea aims to create new opportunities to drive growth in Africa by leveraging its strengths in AI and information and communications technology (ICT). Finance ministers from 54 African nations, along with senior ICT officials and AfDB leaders, have been invited to the event. Discussions will cover a range of topics, including establishing foundations for AI and digital industries and applying South Korea's AI solutions to sectors such as healthcare, agriculture, and education.

On the sidelines, the event organizers will facilitate ministerial-level meetings, business forums, seminars, and investment presentations. The KOAFEC serves as a high-level economic cooperation platform between South Korea and Africa, established in 2006 to foster exchanges and identify development cooperation projects.