Purpose: This study analyzes trade relations between Korea and Latin America, identifying problems and suggesting measures that can be taken by government and corporations to reinforce economic cooperation.
Research design, data, and methodology: To i...
Purpose: This study analyzes trade relations between Korea and Latin America, identifying problems and suggesting measures that can be taken by government and corporations to reinforce economic cooperation.
Research design, data, and methodology: To improve the contributions of the study, empirical analysis is necessary. However, due to limited data access, this study approaches the topic of trade relations between Korea and Latin America based on various statistics and the literature.
Results: First, there is an urgent need for changes in import-export goods between Korea and Latin America because trade focuses on specific items. Second, it is necessary to reinforce commercial cooperation. Korea currently has free trade agreements with Chile, Peru, and Colombia.
Conclusions: This paper analyzed recent trends in problems between Korea and Latin America, and suggests solutions for boosting trade to provide proper strategic guidelines for Korean companies planning to expand into the Latin American market.