Numerous Business Leaders to Participate in the Korea-LAC Innovation & Trade Forum

The two-day forum in Mexico City will explore trade and investment opportunities in information and communication technologies.

Over 350 business leaders and government officials from Korea and Latin America and the Caribbean will gather in Mexico City on October 18-19 for the inaugural Korea-LAC Innovation & Trade Forum. The event aims to strengthen social and economic cooperation between the region and Korea. 

During the event, leaders from the private and public sectors will engage in panel sessions, special presentations, and side-events to explore the crucial role of bolstering collaboration. The focus will be on ways to spark economic growth through innovation and trade. 

Speakers include Jong Kap Kim, President & CEO of the Global Digital Innovation Network Foundation; Young-Hwan Cha, CEO & President of Korea Trade Network; Mariana Franza, Chief Operating Officer of Ualá; Gabriel Yorio, Deputy Minister of Finance and Public Credit of México; and María Luisa Hayem, the Minister of Economy of El Salvador. 

Attendees will have the opportunity to learn about the latest trends in the global digital services industry from both Korea and Latin America and the Caribbean, with a particular emphasis on digital infrastructure, smart manufacturing, artificial intelligence, cybersecurity, eMobility, global digital business platforms, venture capital, and more. The forum also presents valuable networking opportunities for in-person participants.

Over the past two decades, bilateral trade between both regions increased sixfold from $10 billion in 2000 to an all-time high of $64 billion in 2022. In 2021, in the aftermath of the pandemic, investments increased by 70%, nearly reaching $2 billion, a level sustained in 2022.

The Korea-LAC event series was launched in 2007 by the IDB Group in collaboration with the Korean Ministry of Economy and Finance (MOEF), the Korea Trade-Investment Agency (KOTRA), and the Korea Eximbank (KEXIM). In its six previous editions, the event has brought together high-level public and private sector leaders from both sides and paved avenues for enhanced trade and investment cooperation and opportunities. This is the first time the event will be held in a country in Latin America and the Caribbean.

Korea's government, in partnership with the IDB, agreed in September 2023 to renew and expand the Korea Infrastructure Development Co-Financing Facility for Latin America and the Caribbean (KIF) for an additional $1 billion. This record-setting replenishment, the most substantial since the creation of the facility in 2015, underscores the fruitful collaboration harnessed through the Korea-LAC event series.

For additional information and to register, visit: https://korea-lac.com/  

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research projects and provides policy advice, technical assistance and training to public- and private-sector clients throughout the region.