Latin America and Korea: Partners for Sustainable Trade and Investment
The relationship between Korea and Latin American and the Caribbean has come a long way. As the two economies embraced trade with one another in the early 1990s, their connection went from being irrelevant to being a wealth machine. Bilateral trade grew at an impressive annual rate of 11.5%reaching a record high in 2021. The trade boom was followed by US$26 billion in investments by Korean firms in the region since 2000. Despite this meteoric rise, lingering trade barriers remain, and new challenges are emerging from a string of disruptive shocks to the global economyprotectionist backlashes; growing and interrelated sanitary, food, energy, and climate crises; and a fast-moving “digital transformation.” This monograph argues that, despite the challenges, both economies have a set of policies, institutions, and comparative advantages that, if reinforced and leveraged by trade and cooperation, can turn these shocks into bilateral and global opportunities for inclusive and sustainable growth.
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| Language: | English |
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Inter-American Development Bank
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| Subjects: | Investment, Integration and Trade, Foreign Direct Investment, International Cooperation, Sustainable Investment, Export, Economy, F13 - Trade Policy • International Trade Organizations, F15 - Economic Integration, O54 - Latin America • Caribbean, F23 - Multinational Firms • International Business, F35 - Foreign Aid, F50 - International Relations National Security and International Political Economy: General, Cooperation;Trade;Latin America;Korea, |
| Online Access: | http://dx.doi.org/10.18235/0004481 https://publications.iadb.org/en/latin-america-and-korea-partners-sustainable-trade-and-investment |
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