Ministry of Foreign Affairs to Hold Korea-Central America New Cooperation Vision Seminar on the 14th... Discussing Cooperation Measures After FTA Implementation

Exploring Post-COVID Cooperation Measures... 30th Anniversary of the Central American Integration System

[Asia Economy Reporter Lim Cheol-young] Kim Geon, Deputy Minister of Foreign Affairs, will explore post-COVID-19 cooperation measures with Central American countries following the enactment of the Korea-Central America Free Trade Agreement (FTA) at the Korea-Central America New Cooperation Vision Seminar held on the 14th at the Plaza Hotel, marking the 30th anniversary of the Central American Integration System (SICA) and the 200th anniversary of independence in the Central American region.

This seminar is jointly hosted by the Ministry of Foreign Affairs and Hankuk University of Foreign Studies, featuring an in-person welcome speech by Deputy Minister Kim Geon, a keynote presentation by Hwang Kyung-tae, Director of the Latin America and Caribbean Division, and presentations by domestic experts. Central American countries will participate in real-time via video conference, with representatives from the foreign ministries of the eight SICA member countries, the SICA Secretariat, and eight Korean diplomatic missions in the region joining online.

Korea and the Central American countries have been traditional allies sharing the values of democracy and market economy, steadily developing cooperative relations over the past 60 years since establishing diplomatic ties. Recently, the Korea-Central America FTA was enacted, the first among Asian countries, and Korea’s involvement in the Central American Bank for Economic Integration (CABEI) is expected to further activate Korean companies’ investments and infrastructure projects in the region.

In particular, amid the rapid restructuring of the global value chain (GVC) after COVID-19, the Central American region has emerged as a promising candidate for nearshoring, increasing its strategic value and making it a key target for strengthening post-COVID-19 cooperation.

Held ahead of the historic milestones of the 200th anniversary of independence of Central American countries and the 30th anniversary of SICA next year, this seminar is the first of its kind with Central American countries (SICA) to enhance strategic practical cooperation. It aims to present a future cooperation vision between Korea and Central America and to concretely discuss practical cooperation measures such as advancing post-COVID-19 infrastructure projects in Central America utilizing Korea’s K-quarantine and Korean New Deal initiatives.

Additionally, the seminar will analyze changes and prospects in the Central American economic environment in the post-COVID-19 era and discuss sustainable cooperation measures between Korea and Central America in healthcare, infrastructure, digital, and green industries. A Ministry of Foreign Affairs official explained, "The seminar will be broadcast live online through the Ministry’s Latin America and Caribbean Division SNS channels, providing an opportunity to enhance the understanding and awareness of the future Korea-Central America cooperation direction among the peoples of both countries."

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