As South Korean companies are in active pursuit to seize business opportunities in the rising continent of Africa, the Federation of Korean Industries(FKI) hosted the 2016 Africa Day in Seoul.

At the event on Friday, around 120 people, including 22 ambassadors from African countries in South Korea or Japan gave advice to officials from 44 South Korean companies about business opportunities with Africa.

The FKI, South Korea's biggest business lobby, said that participants during the event mainly discussed how South Korea can meet surging demand for infrastructure in African countries.

The event was arranged ahead of President Park Geun-hye’s planned visit to Africa later this month.

According to the Program for Infrastructure Development in Africa(PIDA), around 67-point-nine billion dollars worth of infrastructure will be needed across Africa between 2012 and 2020.

Of the amount, electricity-related infrastructure costs is forecast to make up the majority at 40-point-three billion dollars, followed by transportation-related at 25-point-four billion dollars, water resources-related at one-point-seven billion dollars, and Information and Communication Technology(ICT)-related at 500 million dollars.