President Lee Myung-bak yesterday pledged to more than double Seoul`s official development aid to Africa over the next three years in a meeting with his Senegalese counterpart Abdoulaye Wade, Cheong Wa Dae officials said.

Particularly towards Senegal, which Korea has designated as a major target for grant aid, Lee said his administration would continue to offer strong support in the areas of agriculture, social services and education.

He also pledged to promote African interests at the fifth G20 financial summit, for which Seoul will play host next November.

Wade, in return, expressed gratitude for such assistance and sought access to Korea`s development expertise. The Senegalese president also requested Seoul`s encouragement for the Korean corporate sector to increase its investment in Senegal and Africa, Cheong Wa Dae said.

Korea and Senegal first struck diplomatic relations in 1962.



Trade between the two nations has steadily grown over the years, and doubled last year to $48.3 million from 2005, Foreign Ministry data showed. Investment by Korean companies in Senegal reached about $500,000.

Wade arrived here on Sunday for a four-day visit. He also plans to participate in the second Korea-Africa Forum that opens today. He is scheduled to deliver a keynote speech.



Tomorrow, the government plans to take the African visitors on a tour to the nation`s major factories and other industrial facilities.

Co-hosted by Korea and the African Union, the forum will bring together more than 100 top officials from 53 African countries.

The first Korea-Africa Forum took place in November 2006. To uphold the pledges it issued at that meeting, Seoul has increased loans and grants to $107.1 million last year, up from $42.4 million in 2005.

This year, the forum is expected to focus on the threat of climate change and ways of promoting greener economic growth, Foreign Ministry officials said.

Africa, rich in natural resources, has emerged as an area of interest for Korea, which depends almost entirely on external sources of energy.

Korea`s trade with the region reached almost $14 billion last year, with exports increasing almost 14 percent to $9.4 billion, government figures showed.

In particular, the nation has been aiming to participate in development ventures for energy and other natural resources in Africa.

Korea also has been increasingly seeking to increase aid to underdeveloped nations. In Paris on Wednesday, there will be a vote by the OECD to decide Korea`s membership for a club of a dozen top ODA donors with the organization.

(jemmie@heraldm.com)



By Kim Ji-hyun