1. The Foreign Ministry, along with the Ministry of Knowledge Economy, the Ministry of Environment and 
the Ministry of Land, Transport and Maritime Affairs, hosted the 2010 High-Level Forum on Korea-LAC 
(Latin America and Caribbean) Partnership on May 26-27. The event was held to discuss the current 
economic cooperation between Korea and LAC countries and seek ways to further promote relations 
in the years ahead.

2. Thirteen ministers and vice ministers from nine LAC countries, namely, Guatemala, Bolivia, Haiti, 
Ecuador, El Salvador, Uruguay, Panama, Paraguay, and Peru, related with trade and investment, 
resources, infrastructure, green growth and development; relevant ministers and vice ministers of 
Korea; and business and academic leaders, some 500 in total, attended the event, showing a keen 
interest in Latin America.

3. At the Forum, the participants had in-depth discussions on trade and investment; energy and 
resources; infrastructure and plant; green growth; and development, and agreed on the need to 
bolster Korea-LAC cooperation in these fields.

4. The ministers of LAC countries, who visited Korea for this Forum, had meetings with relevant 
government agencies and organizations of Korea to strengthen the foundation of bilateral 
cooperation between Korea and their countries in various sectors.

ο Guatemala’s Minister of Communications, Infrastructure and Housing Castillo Ruiz expressed a high 
interest in Korean bullet trains in a meeting with relevant officials from the Ministry of Land, Transport 
and Maritime Affairs, the Export-Import Bank, Hyundai Rotem and Korail (Korea Railroad).

- Among the five Central American countries, namely, Guatemala, El Salvador, Honduras, Nicaragua 
and Costa Rica, Guatemala is Korea’s largest trade partner and investment destination.

ο Ecuador’s Electricity and Renewable Energy Minister Miguel Calahorrano had a meeting with relevant 
officials from the Export-Import Bank and Korea Electric Power Corp. to seek further strengthened 
cooperation between Korea and Ecuador in energy and resources.

ο Bolivia’s Planning and Development Minister Caro Hinojosa consulted with related officials from the 
Ministry of Strategy and Finance, the Export-Import Bank and Korea Resources Corp. on the possibility 
of drawing Korea’s economic development cooperation fund (EDCF).

ο Bolivia’s Mining and Metallurgy Minister Reynaldo Cordova met with Korea Zinc Co. officials and made 
a tour of LG Chem Co.’s secondary-battery plant, during which a discussion took place over the possibility 
of mineral-resources cooperation between Korea and Bolivia.

ο Peru’s Vice Foreign Minister Popolizio Bardales met with relevant officials from the Foreign Ministry, 
KOICA (Korea International Cooperation Agency) and the Korea Creative Content Agency to exchange 
views on ways to boost economy and trade, and development cooperation, and on a number of other 
matters that could help promote friendly and cooperative ties.

ο El Salvador’s Vice Foreign Minister Miranda Flamenco met related Foreign Ministry and KOICA 
officials for discussions on high-level officials’ exchange, economy and trade, development 
cooperation and other major bilateral issues.

5. The High-Level Forum on Korea-LAC Partnership, which has established itself as an important 
platform for dialogue between the governments of Korea and LAC countries, was held for the third 
time this year to serve as an opportunity to look forward to future development of relations between 
the two regions and to enhance cooperation in various sectors. The Foreign Ministry will continue to 
hold the Forum on an annual basis to further strengthen the momentum of Korea-LAC cooperation.

                            Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation