KIEP, together with KCLAC and KITA, organizes the Korea-Latin America Business Forum every year to assess the business environment in Latin America - a region that is attracting attention as an important economic cooperation partner - and to explore entry strategies for Korean companies in various sectors.

The 27th Forum brought together national and international experts on the Latin American region, representatives from both private and public sectors. It provided an opportunity to examine the rapidly changing political and economic environment in the region in light of the back-to-back presidential elections in Latin American countries and the upcoming presidential election in Mexico next year. The forum focused on identifying opportunities and risks for Korean small and medium-sized enterprises (SMEs) in areas such as infrastructure, construction and resources.

In his opening remarks, Byung Kil Han, Chairman of the Korean Council on Latin America and the Caribbean (KCLAC), emphasized that strengthening exchanges and cooperation with the Latin American region would be a beneficial solution to the difficult economic situation facing Korea due to low growth, low birth rates and social conflicts.

Kwon Hyung Lee, Vice President of KIEP's Center for Area Studies, said in his welcoming remarks that the 27th Korea-Latin America Business Forum, held at a time of slowing global economic recovery and escalating power bloc conflicts, is an important event to forecast the future trade environment in Latin America. He emphasized the importance of exploring business opportunities in response to global changes such as the restructuring of global supply chains and climate change.

Kohyun Kim, Executive Director of the Korea International Trade Association (KITA), expressed the hope that the Forum would serve as an opportunity for Korean companies, especially SMEs and start-ups, to explore new business opportunities and successful entry strategies in the promising  Latin American market.

The first session, chaired by Byong Seop Kim, former Ambassador of El Salvador, featured presentations on "Exploring Economic Cooperation Opportunities with Latin America". Adriana Arreaza, Director of Macroeconomic Studies at the Development Bank of Latin America (CAF), discussed "Recent Key Issues and Trends in the Latin American Economy. Sungwoo Hong, Associate Research Fellow at KIEP, presented "Korea-Latin America Cooperation from a Global Value Chain Perspective", followed by Min Kyung Park, Research Fellow at KOTRA, who discussed "Economic Environment and Promising Areas of Cooperation in Latin America in 2024".

The second session, moderated by Jeon Hong-jo, former Ambassador of Spain, focused on "Entry Strategies and Case Studies for Small and Medium Enterprises (SMEs)". Jang Seok-jin, CEO of the Global Digital Innovation Network (GDIN), presented on "Collaboration and Global Entry Opportunities for Korea-Latin America Startups". Cha Myung-chul, Special Member of the Water Industry Research Alliance of Korea, spoke on  "Maritime Industry Market in Latin America and Entry Strategies", while Jimyong Suh, Senior Consultant at GDC Consulting, presented on "Entry Strategies Using Official Development Assistance (ODA)".

In the third session on "Cooperation Strategies in Construction, Plant and Resource Fields," Young Chan Kim, Deputy Director of the Export-Import Bank of Korea, spoke on "Current Status and Support Cases of the EDCF in the Latin American Region. Won Jin Shin, Representative of the Korea Office of the Central American Bank for Economic Integration (CABEI), spoke on "Utilizing CABEI for Latin American Market Entry Strategies". Vicente Pinto, Investment Commissioner for Asia of Invest Chile, presented "Opportunities for Korean Companies in Chile's Hydrogen and Renewable Energy Industries".