Beginning negotiations on October 25, 2015, the Strategic Economic Cooperation Agreement (SECA) between Ecuador and South Korea concluded on September 27, 2023 and was officially signed on September 2, 2025.
This agreement seeks to harness the economic benefits of joint activities between the two countries. Its main elements include tariff reduction, improvement of the regulatory environment, expansion of economic cooperation focused on services, and the establishment of a joint response system for energy and mineral resource supply crises.
According to a report published by KOTRA (Korea Trade-Investment Promotion Agency) this September, the agreement opens significant opportunities for Korean companies to develop their business in Ecuador. Potential business areas include the construction of Ecuadorian highways, energy-related projects, and defense and security cooperation.
