South Korea: Peru, investment gateway to South America

16:29 | Lima, Apr. 25.

South Korean Ambassador Cho June-hyuck says Peru constitutes a priority for his country as it is seen as a gateway for Korean investments to South America.

In an interview with El Peruano official gazette, he explained his Government is intended to increase trade, cooperation, and infrastructure construction, as well as to promote education through scholarships and industrialization technology transfer.

Future bilateral ties

Cho emphasized the two countries celebrate 55 years of diplomatic relations this year.

According to him, Peru is one of his country's top partners in Latin America. In fact, the Andean nation is regarded as its gateway to the South American region.

On the other hand, he affirmed the bilateral trade volume amounts to US$3 billion, with a favorable balance of trade for Peru. 

"We purchase some US$2 billion in products from Peru, and Peru, in turn, buys around US$1 billion. This volume is low compared to its potential level," he stated.

As is known, South Korea has a significant advantage in terms of information and communication technologies (ICT), he explained, and both countries can achieve an exchange of technology and knowledge. 

Another area in which trade potential can be exploited is infrastructure. Peru requires substantial improvement in this regard. Plus, South Korea has the knowledge and companies that can help with engineering tasks.

"At the moment, Peru exports a lot of minerals and agricultural products; that is, raw materials. But if we work together, you (Peru) can add value to them, thus industrializing your exports not only to South Korea but all over Asia," he underlined. 


Published: 4/25/2018
Most read