South Korean companies will hold their first large-scale product fair in Africa in early July in an effort to expand their presence in the continent, the government said Wednesday.

   The Ministry of Knowledge Economy said 80 local companies will set up 94 booths covering 5,050 square meters at a convention center in Johannesburg, South Africa, from July 4 to July 6.

   "The event represents the first time that local companies have arranged a joint product fair in Africa, which is likely to help fuel commercial tie-ups and make it easier for businesses to enter the emerging market down the road," it said.

   Samsung Electronics Co., Hyundai Motor Co. and steel giant POSCO will take part in the fair along with 77 small- and medium-sized enterprises engaged in machinery, construction, energy, information technology and consumer goods.

   A national pavilion to showcase South Korea will also be set up, the ministry said, adding 1 billion won (US$926,000) in state funds will be used to help finance the event.

   Businesses are expected to hold talks with their South African counterparts on issues such as nuclear power, solar power generation and high-speed train systems, it said.

   South Africa has unveiled plans to build nuclear power plants to meet its rising energy needs and is moving to upgrade its transportation infrastructure as part of its economic growth strategy.

Source: Yonhap News (June 15, 2011)