S. Korea increases aid to African nations

SEOUL, Nov. 24 (UPI) -- South Korea pledged to double its development aid to nations in the African Union to $214 million, officials at the South Korea-Africa Forum in Seoul said.

The money, as well as 1,000 South Korean aid workers, will go to Africa by 2012, and up to 5,000 African industrial trainees will go to South Korea, Yonhap reported Tuesday.

"We agree to strengthen our partnership in order to support Africa in eradicating poverty and achieving sustainable development, as well as to promote the prosperity of African countries and Korea," read the Framework for Korea-Africa Development Cooperation.

The South Korea-Africa Forum was initiated in 2006 and is intended to meet every three years, Yonhap reported.

More than 120 top African officials, including African Union Commission Chairman Jean Ping, Senegalese President Abdoulaye Wade, and foreign ministers from 15 countries attended this year's meeting, the South Korean news agency said.

"South Korea wants to share its know-how for high-speed economic growth that has been accomplished over half a century," South Korean Prime Minister Chung Un-chan said.

South Korea has a heavy-industry base, but imports most of its raw materials and resources. The country has acquired development rights and made resource ventures in Africa over the last few years as a buffer against fluctuations in international raw material prices, Yonhap reported.