The Korea Herald

피터빈트

Korean foreign minister calls for closer economic ties with Latin America

By KH디지털2

Published : June 29, 2016 - 16:08

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South Korea's foreign minister on Wednesday called for closer economic cooperation with Latin American countries, saying distance is no longer an issue in the modern era.

Yun Byung-se made the remarks during the Korea-Latin America Partnership forum which is expected to bring together more than a 1,000 government officials, businessmen and students from both sides over the next three days.


"Central and South America form an important pillar in our promotion of connectivity through global networking diplomacy," he said in his opening remarks. "In promoting connectivity with Central and South America, an important element we can't miss is the free trade agreements with small regional groups or at the bilateral level."

South Korea, a highly export-driven economy, has free trade deals with 52 countries, or 75 percent of the world, including Chile and Peru.

An FTA with Colombia is set to take effect next month, while negotiations are under way or about to start for similar deals with Central America as a bloc and Mexico.

"South Korea, which is working to create new growth engines, and Central and South America, which are pursuing sustainable economic growth while seeking inclusive growth and tackling inequality, can expand their mutually complementary partnerships," Yun said.

He also called for Latin America's continued support against North Korea's nuclear and missile programs in the face of the communist regime's evolving threats, including its test-firing of two intermediate-range ballistic missiles last week. (Yonhap)