South Korea is stepping up its economic push into Africa, targeting opportunities in Libya’s oil sector and Zimbabwe’s vast mineral wealth as Seoul seeks to deepen its footprint across the continent.
During talks in Seoul on Monday, June 1, 2026, South Korea urged Libya to support a greater presence of Korean companies, particularly in oil production and refining, according to the country’s foreign ministry.
The discussions come as Libya, long affected by political instability and conflict, shows signs of recovery. Libya’s Minister of State for African Affairs, Fatalla Elzuni, told South Korean officials that the country’s security, economic and political environment has improved in recent years, opening the door to new investment opportunities.
According to The Korean Times, Elzuni encouraged Korean firms to expand into Libya’s construction and infrastructure sectors, areas expected to play a major role in the country’s rebuilding efforts.
South Korea’s First Vice Foreign Minister, Park Yoon-joo, highlighted plans to fully reopen the Korean Embassy in Libya, a move that could help facilitate investment and business cooperation. The embassy has operated on a rotational basis between Libya and neighbouring Tunisia since 2022.
