1. The Ministry of Foreign Affairs will be holding a Korea-Pacific Alliance Green Economy Forum under the theme of “Expanding Partnership in Green Growth and Renovation between Korea and the Pacific Alliance in a Post COVID-19 World” at Lotte Hotel Seoul on November 10. 

° The ministry has invited Colombia, Chile, Mexico and Peru -- the four member countries of the Pacific Alliance (PA) -- as well as Ecuador, which is seeking to join the PA as an associate member. The forum will serve as a venue to discuss the topics of “Korea-PA Green Economy Policy Trends,” “Korea-PA Cooperation on Energy Transition and Hydrogen Economy” and “Korea-PA Cooperation on Circular Economy and Forests.”

2. At the forum, the two sides will deepen their mutual understanding on the importance of comprehensive green recovery in overcoming climate change and in facilitating economic reconstruction in the post-pandemic world, while sharing related policies and exploring ways for cooperation.

° Korea and PA member countries have been taking part in the international community’s efforts to build a sustainable future by pledging to achieve carbon neutrality by 2050. PA member countries are recognized as one of Korea’s closest partners in implementing its Green New Deal, as they have been promoting green economy policies in areas such as hydrogen economy, energy transition and clean growth.

3. Five minister- and vice minister-level officials will visit Korea to attend the forum in person: Vice-President and Minister of Foreign Affairs of Colombia Marta Ramírez, Minister of Energy of Chile Juan Carlos Jobet, Vice-Minister of Foreign Affairs of Ecuador César Montaño, Vice-Minister of Electricity and Renewable Energy of Ecuador Gabriel Argüello, and Deputy Director General of the National Planning Department (DNP) of Colombia Daniel Gómez Gaviria.

° Some high-level officials including Minister of Foreign Affairs of Peru Oscar Maúrtua, Vice-Minister of Environmental Management of Peru Mariano Castro, and Deputy Minister of Energy of Mexico Sergio Saldaña Zorrilla will be participating in the forum online.

4. The forum will kick off with opening remarks by Minister of Foreign Affairs of Korea Chung Eui-yong, followed by congratulatory remarks by Ambassador for Economy and Trade of Korea Yoo Myung-hee and a keynote speech by Vice-President of Colombia Marta Ramírez.

° The speakers from Korea will include Deputy Minister for Economic Affairs of the Ministry of Foreign Affairs Lee Seong-ho and experts from related ministries and institutions such as the Korea Forest Service, the Korea Institute of Energy Technology Evaluation and Planning, and the Korea Environment Corporation.

5. This year, the Korean government has made active efforts to build stronger ties with Latin America by holding a Korea-LAC Digital Cooperation Forum in March, a Korea-Central American Integration System Summit in June, and a Korea-Central America Special Roundtable in October. Through this forum, Korea will continue to expand substantive cooperation in the areas of green economy and green recovery, which are considered as new growth engines for the post-pandemic world.

° On the sidelines of the forum, Minister of Foreign Affairs Chung Eui-yong and Vice Minister of Foreign Affairs Choi Jong Kun will have a meeting with the Vice-President and Minister of Foreign Affairs of Colombia and the Vice-Minister of Foreign Affairs of Ecuador, respectively.

6. The PA is a major trade bloc in Latin America with a combined population of 230 million. The combined GDP of the PA member countries reaches 2 trillion dollars, and the PA accounts for about 60% of the trade between Korea and Latin America. Korea joined the PA as an observer in 2013 and has been making continuous efforts to become the alliance’s associate member since 2018.

° Joining the PA as an associate member could have the same effect as signing an FTA with Mexico and give Korea the opportunity to improve its FTAs with Chile, Peru and Colombia.

° The forum will contribute to paving the way for Korea to become an associate member of the PA by deepening cooperation in new industries as well as mutual trade and investment.

7. The forum will be held in a hybrid online and offline format and be livestreamed on the event’s official website (k-paforum.kr) and on the YouTube channel “Latin Plaza by MOFA KR.”