Ministry of Foreign Affairs of the Republic of Korea

05/15/2023 | Press release | Distributed by Public on 05/14/2023 22:24

Ministry of Foreign Affairs to Host “2023 Korea-LAC Future Cooperation Forum”

1. The Ministry of Foreign Affairs will host the "2023 Korea-LAC Future Cooperation Forum" under the theme "Cooperation for Prosperity in a Changing World Order" in Seoul on Tuesday, May 16.

2. The upcoming forum, the largest ever since 2008, will be attended by more than 200 participants, including high-level officials from 10 major Latin American countries such as Brazil, Mexico, and Peru, as well as international organizations, and representatives from the Korean government, academia, and business.

3. The forum will focus on Korea-LAC cooperation in i) implementing the Indo-Pacific Strategy, ii) economic security, and iii) infrastructure, climate change, and agricultural innovation.

4. In Session 1 on "Strengthening Korea-LAC cooperation in the Indo-Pacific Era," the participants will exchange views on the Indo-Pacific Strategy, which the Korean government announced last year.

5. Session 2 will be held under the theme "Expanding Cooperation on Economic Security: Trade and Investment, Science and Technology". In particular, the governor of Nuevo León, the center of Mexico's high-tech manufacturing industry, will speak on the cooperation between Korea and LAC in the midst of global supply chain disruption. Nuevo León is a hotbed of industrial cooperation between Korea and Mexico, and is home to more than 270 Korean companies, including Kia Motors and LG Electronics.

6. Finally, Session 3 will focus on "Promoting Tailor-made Cooperation in Key Sectors: Infrastructure and Transport, Climate Change, Agriculture." The session will address investment opportunities for Korean companies, as well as joint responses to global issues such as climate change and food security.

7. The foreign participants will attend the forum and an official dinner hosted by Foreign Minister Park Jin on Tuesday, May 16, followed by bilateral meetings on Wednesday, May 17, and a visit to Busan on Thursday, May 18, to see the site of the World EXPO 2030 Busan.

8. The Yoon Suk Yeol government, which marks one year since its inauguration, is seeking partnership with LAC in responding to global challenges as a "Global Pivotal State." Through this forum, the Ministry of Foreign Affairs will continue to strengthen economic diplomacy with LAC amid evolving global political and economic landscape.