1. The Ministry of Foreign Affairs, with the support of public institutions including the Ministry of Economy and Finance, the Seoul Metropolitan Government, and Korea National Railway, will send a delegation to Latin American and Caribbean countries to seek cooperation on infrastructure after the COVID-19 pandemic. The delegation led by Mr. Choi Jong-uk, Deputy Director-General of the Latin American and Caribbean Affairs Bureau of the Ministry of Foreign Affairs, will visit Mexico, Honduras, Panama and Peru from June 4 to June 12.

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°   During its visit to follow up on Vice Minister Choi Jong Kun’s visit to Latin America in April, the delegation will discuss ways to expand tangible cooperation in the areas of infrastructure and digital industries, including supporting Korean companies’ participation in the $12.2 billion infrastructure projects in the four countries (the infrastructure modernization initiative in Honduras, Panama’s Metro Line 3 project, Peru’s new Lima Metro Lines 3 and 4 project, etc.). 

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2. The delegation will first visit Mexico to hold a meeting with Mr. Lopez, President of the Technical Council of Knowledge and Innovation, to discuss various ways to strengthen cooperation between the two countries in the areas of smart cities and digital infrastructure, as well as to share the experiences of the Seoul Metropolitan Government in these fields. 

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°    Also, the delegation will hold business meetings with Korean institutions and companies in Mexico to hear their difficulties and discuss ways to support their efforts to build presence in the country.

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3. In Honduras, the delegation will hold meetings with the Ministry of Foreign Affairs, the Secretariat for the General Coordination of the Government, and the Ministry of Public Innovation, and discuss ways to expand Korea’s participation and cooperation in the infrastructure projects under the Plan for the Reconstruction and Sustainable Development of Honduras as well as ways to promote development cooperation in the areas of digital transformation, smart cities, and green industries.

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°   Also scheduled is a meeting with Mr. Mossi, Executive President of the Central American Bank for Economic Integration (CABEI), to discuss cooperation in transport and social infrastructure in Central America utilizing the Korea-CABEI Trust Fund.

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4. In Panama, the delegation will hold a meeting with Mr. Ortega, Director General of Panama Metro to discuss the progress of Korean companies’ participation in Panama’s Metro Line 3 project and their opportunity to join additional projects that are linked to this project, and explain Korea’s experiences and operating system in railway projects.  

5. In Peru, its last destination, the delegation will meet with the representatives from the Ministry of Foreign Affairs, the Ministry of Transport and Communications, the Metropolitan Municipality of Lima and other relevant bodies, and have a meeting with the Korean companies operating in Peru.   

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°  Particularly, through the meetings with the Ministry of Foreign Affairs and the Ministry of Transport and Communications, the delegation hopes to help Korean companies win orders on the new Lima Metro Lines 3 and 4 project and the new Chinchero international airport development project.

 
°  During the meeting with the Metropolitan Municipality of Lima, the delegation will introduce Korea’s smart-city project and discuss with the Peruvian side ways for the two nations to collaborate in related areas such as the sewerage treatment system, etc.  

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6. Last year, Korean companies won approximately $6.9 billion worth of infrastructure contracts from the Latin American and Caribbean region (which accounts for 20 percent of the orders from overseas), which makes this region the third-largest overseas infrastructure market for Korean companies after the Middle East and Asia. In this context, by holding these meetings, the delegation hopes to further contribute to advancing economic cooperation between Korea and the Latin American and Caribbean region and support Korean companies’ bids to enter the market in the region.

°  The delegation hopes to enhance Korea’s cooperation with the Latin American and Caribbean region in the digital and green infrastructure area, and through working-level meetings on measures for establishing social infrastructure such as for transportation, safety and public health, to contribute to resolving the immigration issue in the Northern Triangle of Central America that was mentioned in the U.S.-ROK Leaders’ Joint Statement.