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.

Bibliographic Details

Main Author:	Inter-American Development Bank
Other Authors:	Mauricio Mesquita Moreira
Language:	English
Published:	Inter-American Development Bank
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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