South Korean firms sign deals with African partners

More than 20 South Korean companies signed deals worth more than $3.1 million with African partners, mostly Ugandan firms, by capitalizing on President Park Geun-hye’s African tour, South Korea’s presidential office said.

    The deals were reached in a meeting between executives of 27 South Korean companies and more than 210 Ugandan firms and other African firms as well as multinational corporations in Uganda’s capital, Kampala, South Korean News Agency (Yonhap) reported.

    South Korea said $3.1 million accounts more than 15 percent of its exports to Uganda last year. Park arrived in Kenya earlier in the day from Uganda, the second stop on her swing through Africa. The trip already took her to Ethiopia, where South Korean companies signed deals worth $24 million. 

    The South Korean business executives have come along on Park's trip to explore new business opportunities in Africa.