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| dc.title | Korea: New Frontiers in the Asia-Latin America Relationship |
| dc.contributor.author | Kahn, Theodore |
| dc.contributor.author | Mesquita Moreira, Mauricio |
| dc.contributor.orgunit | Productivity, Trade and Innovation Sector |
| dc.coverage | Latin America |
| dc.date.available | 2017-10-25T00:00:00 |
| dc.date.issue | 2017-10-25T00:00:00 |
| dc.description.abstract | Trade between Korea and Latin America and the Caribbean (LAC) experienced an unprecedented boom beginning in the early 2000s. Following the broader course of Asia-LAC relations, this trade surge was driven by strong resource complementarity between the two economies and fast growth in Asia, which led to a commodities-for-manufacturing trade pattern typical of the region’s trade with Asia. At the same time, the Korea-LAC relationship distinguishes itself from the overall Asia-LAC pattern in several important respects. First, the region’s exports to Korea have included a higher share of manufacturing products and are more diversified overall than is the case with China or Japan. In addition, the trade surge of the early 2000s was followed by a strong inflow of Korean FDI in LAC, which has overwhelmingly targeted manufacturing sectors, helping to further diversify the relationship. Finally, Korea has established an extensive network of free-trade agreements (FTAs) in the region, beginning with the first Asia-LAC FTA with Chile in 2004, alongside a robust cooperation agenda in diverse policy areas. Investment and cooperation thus helps further diversify the economic relationship beyond the commodities-for-manufacturing pattern of trade. This document reviews the evolution of Korea-LAC economic ties since the early 2000s, highlighting how the relationship stands out from the broader Asia-LAC story and identifying the key challenges to strengthen the relationship moving forward. |
| dc.format.extent | 54 |
| dc.identifier.doi | http://dx.doi.org/10.18235/0000877 |
| dc.identifier.url | https://publications.iadb.org/publications/english/document/Korea-New-Frontiers-in-the-Asia-Latin-America-Relationship.pdf |
| dc.identifier.url | https://publications.iadb.org/publications/korean/document/Korea-New-Frontiers-in-the-Asia-Latin-America-Relationship.pdf |
| dc.language.iso | en |
| dc.medium | Adobe PDF |
| dc.publisher | Inter-American Development Bank |
| dc.subject | Trading Cost |
| dc.subject | Trade Facilitation |
| dc.subject | Foreign Direct Investment |
| dc.subject | Free Trade Agreement |
| dc.type | Monographs |
| idb.identifier.pubnumber | IDB-MG-563 |