Seoul: South Korea's industry ministry convened a business forum on Monday to enhance economic partnerships with Latin American nations, specifically addressing trade uncertainties linked to the incoming U.S. administration. The forum aimed to devise strategies for South Korean businesses to deepen their engagement in the region, with participation from officials of think tanks and delegations from 17 Central and South American countries, as reported by the Ministry of Trade, Industry and Energy. According to Yonhap News Agency, Deputy Minister for Trade Park Jong-won emphasized the importance of collaboration between South Korea and Latin American countries. He highlighted the need for both regions to work together to stabilize the supply chain and foster future-oriented cooperation amidst expected shifts in the global economic and trade landscape, particularly in the Americas. The ministry also announced plans to pursue closer partnerships with Latin American countries at the upcoming Asia-Pacific Economi c Cooperation summit, scheduled to take place in Gyeongju, approximately 275 kilometers southeast of Seoul, next year. This initiative reflects South Korea's strategic approach to solidifying its economic presence and influence in the Latin American markets. South Korea's trade volume with Central and South American countries has witnessed significant growth, reaching US$54.8 billion in 2023, a substantial increase from $13.4 billion in 2003. This upward trend underscores the burgeoning economic ties between South Korea and the Latin American region, which the forum seeks to further bolster.