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Korean exports - including cars, electronics, and machinery - have expanded rapidly across Latin America, while the region's copper, lithium, fuels, and agricultural products have become essential to Korea's economy. Today, Latin America supplies 16.5 percent of Korea's agri-food imports, and Korean firms are investing in manufacturing hubs in Mexico and Brazil, electronics in Central America, and renewable energy and critical minerals in Argentina and Chile. Through the Korea–IDB Group partnership, more than four million households in Latin America and the Caribbean have gained access to electricity, water, sanitation, and digital services - supported by over $2 billion in Korea and IDB Group co-financing for infrastructure, connectivity, and clean energy. At the Summit, the IDB Group and Korean partners also announced a new cooperation package The new joint report identifies three key steps to accelerate progress: lowering trade costs, expanding preferential trade agreements, and coinvesting in value chains for critical minerals, resilient energy, digital transformation, and agri-food industries. It also calls for improving regulatory and digital compatibility, streamlining logistics, and developing co-financing mechanisms to attract investment and boost value-added production. Launched in 2007, the Korea–LAC Business Summit is led by the IDB Group in collaboration with MOEF, KEXIM, and KOTRA. The post Korea – IDB Group mark 20-year partnership amid record trade levels appeared first on Caribbean News Global.
