IDEAS home Printed from https://ideas.repec.org/a/ccs/journl/y2018id363.html
   My bibliography  Save this article

The Strategic Value of Africa as the New Market and Korea’s Economic Cooperation with Africa

Author

Listed:
  • Y. Park
  • Y. Kim

Abstract

Africa is rising as the new market in the 21st century. Before the 2000s Africa was regarded as a “continent of crisis† plastered with poverty and war. However, it is now being spotlighted as the ‘last new market on Earth’ due to its development potential. Its value is being reevaluated because it presents new opportunities as an unexplored market. It present opportunities across a wide range of industries: from consumer goods to manufacturing, agriculture, natural resource development and infrastructure. Korea has been ignorant of Africa’s development potential till the mid-2000s but is now looking at Africa as a new opportunity market or cooperation partner. It is taking diverse measures such as through state visits and increase of development aid to strengthen cooperation. Korea perceives Africa’s potential from a future oriented perspective and is expanding economic cooperation from a long-term standpoint. Consequently, Korea is working towards establishing a future oriented partnership with Africa based on mutual trust by identifying core partnership projects that meet the needs of Africa. Korea seeks substantiality of its economic partnership with Africa by identifying priority countries of cooperation.

Suggested Citation

  • Y. Park & Y. Kim, 2018. "The Strategic Value of Africa as the New Market and Korea’s Economic Cooperation with Africa," Outlines of global transformations: politics, economics, law, Center for Crisis Society Studies, vol. 11(5).
    • Handle: RePEc:ccs:journl:y:2018:id:363
    DOI: 10.23932/2542-0240-2018-11-5-236-248
    as

    Download full text from publisher

    File URL: https://www.ogt-journal.com/jour/article/viewFile/363/362
    Download Restriction: no
    File URL: https://libkey.io/10.23932/2542-0240-2018-11-5-236-248?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Anton Eberhard & Katharine Gratwick & Elvira Morella & Pedro Antmann, 2016. "Independent Power Projects in Sub-Saharan Africa," World Bank Publications - Books, The World Bank Group, number 23970, December.
    2. Park , Young Ho & Jeong , Jisun & Park, Hyunju & Kim , Yejin, 2015. "아프리카 민간부문개발(Psd) 현황 및 한국의 지원방안 (An Analysis of Private Sector Development (PSD) in Africa and Opportunities for the Korea-Africa Development Cooperation)," Policy Analyses 15-20, Korea Institute for International Economic Policy.
    3. Park, Young Ho & Jung, Jae Wook & Kim, Yejin, 2017. "아프리카 소비사장 특성 분석과 산업단지를 통한 진출방안(Africa's rising consumer market and Korea's engagement opportunity through industrial zones development)," Policy Analyses 17-13, Korea Institute for International Economic Policy.
    4. Park , Young Ho & Bang , Ho-Kyung & Cheong , Jae Wan & Kim , Yejin & Lee , Boyan, 2016. "아프리카 도시화 특성분석과 인프라 협력방안 (An Analysis of Urbanization in Africa and Its Implication for Korea's Cooperation in Infrastructure Development)," Policy Analyses 16-22, Korea Institute for International Economic Policy.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Imam, Mahmud I. & Jamasb, Tooraj & Llorca, Manuel, 2019. "Sector reforms and institutional corruption: Evidence from electricity industry in Sub-Saharan Africa," Energy Policy, Elsevier, vol. 129(C), pages 532-545.
    2. Francis Kemausuor & Muyiwa S. Adaramola & John Morken, 2018. "A Review of Commercial Biogas Systems and Lessons for Africa," Energies, MDPI, vol. 11(11), pages 1-21, November.
    3. Sarah Hughes & Patricia Costa & Cullen Seaton & Arif Mamun & Dara Bernstein & Nils Junge Catalina Torrente, "undated". "Benin Power Compact Policy Reform and Institutional Strengthening Project: Evaluation Design," Mathematica Policy Research Reports 62ec5a47ce06441b97c0edd2b, Mathematica Policy Research.
    4. Visser, Henning & Thopil, George Alex & Brent, Alan, 2019. "Life cycle cost profitability of biomass power plants in South Africa within the international context," Renewable Energy, Elsevier, vol. 139(C), pages 9-21.
    5. Trotter, Philipp A. & Maconachie, Roy & McManus, Marcelle C., 2018. "Solar energy's potential to mitigate political risks: The case of an optimised Africa-wide network," Energy Policy, Elsevier, vol. 117(C), pages 108-126.
    6. Herbert, Caren & Phimister, Euan, 2019. "Private sector-owned mini-grids and rural electrification: A case study of wind-power in Kenya's tea industry," Energy Policy, Elsevier, vol. 132(C), pages 1288-1297.
    7. Eberhard, Anton & Gratwick, Katharine & Kariuki, Laban, 2018. "Kenya's lessons from two decades of experience with independent power producers," Utilities Policy, Elsevier, vol. 52(C), pages 37-49.
    8. Eberhard, Anton & Gratwick, Katharine & Morella, Elvira & Antmann, Pedro, 2017. "Independent Power Projects in Sub-Saharan Africa: Investment trends and policy lessons," Energy Policy, Elsevier, vol. 108(C), pages 390-424.
    9. Dagnachew, Anteneh G. & Hof, Andries F. & Roelfsema, Mark R. & van Vuuren, Detlef P., 2020. "Actors and governance in the transition toward universal electricity access in Sub-Saharan Africa," Energy Policy, Elsevier, vol. 143(C).
    10. Tom Ogwang & Frank Vanclay, 2021. "Resource-Financed Infrastructure: Thoughts on Four Chinese-Financed Projects in Uganda," Sustainability, MDPI, vol. 13(6), pages 1-22, March.
    11. Bhamidipati, Padmasai Lakshmi & Haselip, James & Elmer Hansen, Ulrich, 2019. "How do energy policies accelerate sustainable transitions? Unpacking the policy transfer process in the case of GETFiT Uganda," Energy Policy, Elsevier, vol. 132(C), pages 1320-1332.
    12. Hansen, U.E. & Nygaard, I. & Morris, M. & Robbins, G., 2020. "The effects of local content requirements in auction schemes for renewable energy in developing countries: A literature review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 127(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ccs:journl:y:2018:id:363. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Кривопалов Ð Ð»ÐµÐºÑ ÐµÐ¹ Ð Ð»ÐµÐºÑ ÐµÐµÐ²Ð¸Ñ‡ (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.