The strengthening of the trade relationship between the Republic of Korea and Latin America is at a turning point. According to the technical report published by Dr. Sungwoo Hong of KIEP, the Korean strategy seeks to transcend the traditional model of exchanging manufactured goods, which has shown signs of stagnation over the last decade.
The analysis identifies three fundamental pillars for a new cooperation architecture. First, diversification toward the service economy and digital solutions, leveraging the Korean technological ecosystem to integrate into regional digital transformation. Second, security in the supply of critical minerals, which positions Latin America as an indispensable partner for the energy transition and the semiconductor industry. Finally, the report highlights the use of Trade and Investment Promotion Frameworks (TIPF) as agile instruments to stimulate capital flows in markets where free trade agreements have not yet been consolidated.
For ALADI member countries, these guidelines represent an opportunity to deepen trade convergence with the Asia-Pacific. In the current context, marked by the reconfiguration of global supply chains (nearshoring), alignment with KIEP’s priorities would allow member countries not only to attract high-tech investment but also to strengthen their insertion into high-value-added sectors, consolidating a paradigm of mutual and sustainable growth.
The full details of the report can be accessed at the following link:
Full Report: Korea’s Trade Policy Priorities with Latin America: Future Directions
