The South Korean government is seeking to enhance trade agreements with emerging markets in South America, specifically Argentina and Uruguay, and has begun gathering opinions from industry stakeholders and experts.
On July 16, the Ministry of Trade, Industry and Energy held a public hearing at COEX in Seoul to collect feedback on the proposed trade agreements with Argentina and Uruguay. This hearing was organized to ensure that various stakeholders' opinions are considered in accordance with relevant laws before moving forward with the agreements.
Participants included companies that have entered the South American market, research institutions in the economic and trade sectors, and representatives from related organizations. They discussed the expected benefits of the agreements, the potential impact on domestic industries, and challenges to consider during the negotiation process.
The government views Argentina as rich in strategic resources such as lithium and shale gas, while Uruguay is seen as a stable political and social environment that can serve as a logistical hub for entering the South American market.
The Ministry plans to review the feedback gathered during the public hearing and proceed with the domestic procedures necessary to advance the trade agreements with Argentina and Uruguay.
Park Geun-o, Director of Trade Agreement Policy at the Ministry, stated, "The advancement of these agreements could serve as a catalyst for expanding our companies' access to the South American market and enhancing cooperation in resource and supply chain management. We will actively incorporate industry feedback as we prepare for negotiations."
* This article has been translated by AI.
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