1. Foreign Minister Kang Kyung-wha attended the 37th session of the UN Economic Commission for Latin America and the Caribbean (ECLAC), held in Havana, Cuba, becoming the first ROK Foreign Minister to do so.

o In the 37th session of ECLAC, marking its 70th anniversary this year, participants discussed the 2020 ECLAC strategy, the report titled “The Inefficiency of Inequality,” and ways to step up South-South cooperation.

※ UN Economic Commission for Latin America and the Caribbean

- 46 member states (33 Latin American countries, the ROK, the US, Japan, Germany, etc.)

※ 37th session of ECLAC (May 7-11, Havana, Cuba)

- theme: Inefficiency of Inequality

- key agenda: report on ECLAC’s activities during 2016-2017, proposal on ECLAC’s programs for 2020, release of the report titled “The Inefficiency of Inequality,” high-level seminar, seminar to celebrate ECLAC’s 70th anniversary, meeting of the Committee on South-South Cooperation, dialogue between foreign ministers and high-level officials, etc.

- The ROK has attended every session of ECLAC since its accession to the organization as a full member in 2007 (The ECLAC session takes place every two years).

2. On May 10, Minister Kang attended a high-level seminar on the inefficiency of inequality, in which she explained the ROK’s economic and social policies, focusing on a “people-centered economy” and “inclusive welfare policies.” The Minister also talked about the policies’ implications for Latin America’s efforts to tackle inequality, as well as the ROK’s activities to contribute to reducing inequality in Latin America.

3. In addition, Minister Kang met with Executive Secretary of ECLAC Alicia Barcena on May 10. In the meeting, the two sides discussed ways to strengthen cooperation between the ROK and ECLAC, as well as the way forward for bilateral cooperation, and signed the 2018 agreement on the ROK-ECLAC cooperation fund.

※ major cooperation projects between the ROK and ECLAC in 2018

o CORPYME: ROK-CELAC cooperation project on the globalization of small and medium-sized enterprises

o project to devise Latin America’s urban-rural policies and related plans

o activities related to sustainable development of export

o strengthening functions of the Latin America–Asia Pacific Observatory

4. Minister Kang’s participation in the ECLAC session served as an opportunity to express the ROK’s willingness to increase its contribution to the inequality issue facing the Latin American region, as well as to enhance cooperation with Latin American countries and regional organizations.

* unofficial translation