IDEAS home Printed from https://ideas.repec.org/a/ccs/journl/y2019id477.html

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, 2019. "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.
    • Handle: RePEc:ccs:journl:y:2019:id:477
    DOI: undefined
    as

    Download full text from publisher

    File URL: https://www.ogt-journal.com/jour/article/viewFile/477/412
    Download Restriction: no
    File URL: https://libkey.io/undefined?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:

    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:2019:id:477. 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.

    We have no bibliographic references for this item. You can help adding them by using 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.