2024-06-05 02:10:07
Greater than 30% of the world’s mineral sources are buried within the African continent. For Korea, the place provide chain diversification is a key process, Africa, a treasure trove of sources, is a key companion that can’t be missed.
Africa’s lithium (platinum) reserves quantity to 89% of the world. Lithium, known as ‘white oil’, is the primary uncooked materials for batteries. Within the case of cobalt, which constitutes the precursor, a key materials for batteries, 52% of the world’s reserves are in Africa. Africa’s manganese reserves are additionally at 61% of the world’s degree. Within the case of crude oil and pure gasoline, 10% and eight% of world reserves, respectively, are in Africa.
Korea imports about 60-90% of battery part uncooked supplies from China. Because the battle between the US and China intensifies, China is predicted to additional improve the extent of ‘useful resource weaponization’ by proscribing exports of key minerals. Particularly, as america introduced that it might not present subsidies to electrical autos utilizing Chinese language battery supplies from 2025, securing a provider to switch China has change into extra pressing for Korea.
Africa can also be a doable ‘win-win’ companion for us as we face the issue of labor scarcity brought on by hyper-aging. 60% of Africa’s inhabitants is underneath the age of 25. The median age of the ‘younger continent’ Africa final 12 months was 18.8 years. It’s a lot decrease than Korea’s age of 46.1. If the development of excessive delivery charges continues, Africans will account for 25% of the world’s inhabitants by 2050. A authorities official emphasised, “Africa is ‘the world’s final development engine,’” and added, “Africa will surpass India and China to change into the world’s important supply of labor by 2050.”
Africa continues to develop economically primarily based on plentiful labor and mineral sources. As such, it has appreciable worth as an rising client marketplace for home firms. Lately, African nations launched the African Continental Free Commerce Space (AfcFTA), the world’s largest free commerce settlement. A market with a complete manufacturing of three trillion {dollars} was shaped.
Africa is a necessary companion when discussing safety points at numerous worldwide conferences. As well as, the African continent can also be a serious ‘floor’ when main worldwide occasions reminiscent of expos or elections are held. Within the United Nations, 54 nations (27.9%) out of 193 member nations are on the African continent.
Reporter Ko Do-ye [email protected]
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2024-06-05 02:10:07