An event to expand economic cooperation in the ICT field between Korea and Latin America

Expect active cooperation between resource-rich Central and South America and Korea

At the 2023 Korea-Latin America Innovation Forum, public and private sector experts from Korea and Latin America gathered to support effective and direct communication channels to promote economic growth through innovation and trade and strengthen partnerships by introducing Korean companies in technology and innovation fields. The 2023 forum focused on four major topics related to the 4th Industrial Revolution.

△ Digital infrastructure: digital services, cloud computing, 5G network

△ Digital business platform: AI, big data, e-commerce

△ Cybersecurity: Cybersecurity, blockchain-based breach incidents and response

△ ESG (Environment, Society, Governance): Environment, sustainability, and social inclusion TICs

During the forum, public and private sector experts from Korea and Latin America will meet through panel discussions, 1:1 business consultations, and other programs focusing on the importance of cooperation between the two sides to promote economic growth through innovation and trade. Exchanges between Central and South American companies were supported in all aspects. The opening ceremony was attended by Kim Byeong-hwan, First Vice Minister of MOEF (replaced with video), Gabriel Yorio, Mexican Vice Minister of Finance, Kim Jae-hwan, MOEF Development Finance Director, Tomas Bermudez, IDB Central American Regional Director, Park Jong-gyu, Vice President of the Export-Import Bank of Korea, and KOTRA Central and South American Regional Director Kim Sang-soon.

At the forum held for the first time this year, the latest information was shared through conferences and trends in the global digital service industry in Korea and Latin America, focusing on digital infrastructure, smart manufacturing, artificial intelligence, cybersecurity, electric vehicles, global digital business platforms, and venture capital. did. Networking opportunities were also provided through advance reservations prior to the event.

Forum Highlights 

Forum and consultation results

KOTRA arranged 8 meetings over two days with companies related to AI, big data, cybersecurity, smart city, and smart healthcare in eight countries, including Mexico, Ecuador, Colombia, Chile, Peru, Paraguay, Brazil, and the Dominican Republic.

Notable companies among the participating Mexican companies included FEMSA (Mexican's 4th largest company), Grupo Bal (Mexican's 15th largest company), PepsiCo (Mexican's 45th largest company), and Softtek, which sought business cooperation opportunities with Korean companies. In addition to participating companies and companies that applied in advance, 46 companies that attended the forum additionally requested meetings with participating companies. Participating companies evaluated this forum as a useful time by presenting a vision for seeking cooperation between Korea and Mexico and discovering business development opportunities in areas where there was no existing information. In particular, the 1:1 consultation session is expected to produce positive results, with most participating companies conducting follow-up consultations.


According to an interview with the commercial manager of Nubetia, a digital solutions company, at the KOTRA Mexico City Trade Center, Mexico's current hardware and software market is a market with great opportunities, and for Korean companies, it is important to provide language support services and expand their portfolio through a diversified portfolio. He said it would also be a good idea to look for distribution channels with high recognition in Mexico. In addition, he said that one of the biggest issues of Mexico's digital transformation and the 4th Industrial Revolution is the large cost reduction effect compared to investment, so importing raw materials or parts that can be produced in Mexico can be a great opportunity.

Source: 2023 Korea-LAC Innovation and Trade Forum website, KOTRA Mexico City Trade Center data compilation

Source: KOTRA