President Yoon Suk Yeol shakes hands with Tanzanian President Samia Suluhu Hassan during their summit at the former's office in Yongsan District, Seoul, Sunday. Courtesy of presidential office

South Korea seeks expanded diplomatic relations with African nations on the occasion of the Korea-Africa Summit, with President Yoon Suk Yeol engaging in bilateral meetings with the heads of states visiting Seoul to attend the event slated for Tuesday and Wednesday.

Yoon had a bilateral summit with Tanzanian President Samia Suluhu Hassan at the presidential office in Seoul, Sunday, and hosted Ethiopian Prime Minister Abiy Ahmed at a dinner meeting later in the day.

It was the first time for a Tanzanian president to visit South Korea since 2006. During the summit, the leaders welcomed the commencement of negotiations for a bilateral Economic Partnership Agreement, and exchanged each other's commitments for expanding economic partnerships, including South Korean businesses' participation into Tanzania's infrastructure projects.

On the occasion of the summit, South Korea and Tanzania signed to a memorandum of understanding on supply chain of key raw minerals.

The meetings followed Yoon's summit with Sierra Leone President Julius Maada Bio on Friday, during which they agreed to step up partnerships in education, public health and food security, as well as enhance the two countries' cooperation at the United Nations Security Council.

The meetings were part of Yoon's plan to have summits with 25 heads of states who are scheduled to visit Seoul on the occasion of the Korea-Africa Summit.

Starting from a welcome banquet on Monday, the Korea-Africa Summit will kick off on Tuesday. With 48 African countries participating, scheduled on the first day are discussion sessions, a luncheon and Yoon's joint press conference with African Union Chairperson and Mauritanian President Mohamed Ould Ghazouani.

On Wednesday, South Korea's Ministry of Trade, Industry and Energy will host the 2024 Korea-Africa Business Summit, and 13 other events on Korea-Africa partnerships will take place during the event's run.

Ivory Coast President Alassane Ouattara disembarks the plane as he arrives at Seoul Air Base in Gyeonggi Province, Sunday, to attend the Korea-Africa Summit. Yonhap

The event and the string of bilateral summits are part of the Yoon administration's efforts to expand South Korea's ties with African nations as the region gains increasing strategic importance.

With 60 percent of its population under the age of 25, Africa is the fastest-growing continent in terms of population. The African Continental Free Trade Area, which was launched in 2019, is set to become a significant economic entity, encompassing a market of 1.4 billion people and a combined gross domestic product of $3.4 trillion.

The continent's abundant natural resources make the region an attractive trading partner.

Around 30 percent of the world's mineral resources are assumed to be found in Africa. Of them, the continent's rich reserves of chromium, manganese, cobalt and other key minerals essential for the production of rechargeable batteries and other advanced technologies are boosting the region's strategic importance for Seoul, which relies heavily on imports for over 95 percent of its raw mineral needs.

President Yoon Suk Yeol talks with Sierra Leone President Julius Maada Bio during their summit at the former's office in Yongsan District, Seoul, Friday. Courtesy of presidential office

The region's diplomatic status is also important for Seoul, as it can vote on global discussions regarding contentious agendas. The presidential office anticipates securing Africa's support on the international stage, particularly regarding security issues including North Korea's nuclear threats.

“Africa wields significant influence at the United Nations with 54 votes, which is more than any other continent, and approximately 40 percent of the U.N. Security Council's agenda items are related to Africa,” First Deputy Director of National Security Kim Tae-hyo said.

“For South Korea, a non-permanent member of the U.N. Security Council, cooperation with Africa is essential. As the country aims to become a global pivotal state, partnering with Africa is not a choice but a necessity.”

Despite the increasing importance of the region, South Korea has only 18 embassies in Africa, which is a small number compared to Japan, which operates 38 diplomatic outposts in the region.

Since having diplomatic outposts is crucial for enabling businesses to make forays into local markets, South Korea is also seeking to increase its number in Africa.

In a written interview with AFP, released on Sunday, Yoon said Seoul hopes to sign a slew of agreements with countries attending the summit and “lay the foundation for comprehensive cooperation, including the exchange of information related to critical minerals, technological collaboration and joint exploration.”