Seoul: An annual forum on business cooperation between South Korea and Latin American countries was held in Seoul on Friday, providing a platform where Korean companies can explore opportunities in Latin America's digital and infrastructure sectors, the industry ministry said. The 29th Korea-Latin America Business Forum brought together some 150 officials from the diplomatic missions of 18 nations in Latin America and Korean companies operating in the region.

According to Yonhap News Agency, this year's event was centered on checking the business environment in Latin America amid heightened global trade uncertainties stemming from the protectionist policies of U.S. President Donald Trump's administration, as stated by the Ministry of Trade, Industry and Resources. In his opening remarks, Vice Trade Minister Park Jung-sung highlighted the need for Korea and Latin America to expand bilateral trade networks and bolster cooperation in critical mineral supply chains to achieve sustainable growth amid global uncertainties.

Over the past 20 years, the trade volume between Korea and Latin America has increased more than fourfold, while Seoul's investment in the region has grown by twenty-four times, the ministry said.