SEOUL, South Korean and African firms on Tuesday discussed business deals in the fields of key minerals, energy and infrastructure, Seoul’s industry ministry said.

The meeting took place on the sidelines of the two-day Korea-Africa Summit, which began earlier in the day, according to the Ministry of Trade, Industry and Energy.

A total of 56 companies from 17 African nations and some 194 South Korean firms joined the meeting, officials said.

The ministry reported that the combined value of preliminary deals agreed during the meetings was estimated at US$57.9 million.

“We hope the businesses of the two regions can enhance their competitiveness in the global market through mutual cooperation,” said Yu Jeoung-yeol, the president of the state-run Korea Trade-Investment Promotion Agency.

Source: Yonhap News Agency