According to Yonhap News,

On July 28, the Korea Trade-Investment Promotion Agency (KOTRA) announced that it held the "2024 Korea-LAC Trade and Innovation Forum" in Rio de Janeiro, Brazil, on July 25-26.

The event was joined by the Ministry of Strategy and Finance, the Inter-American Development Bank (IDB), and the Export-Import Bank of Korea in connection with the meeting of G20 finance ministers held in Brazil.

The event consisted of one-on-one business matchmaking meetings, trade and innovation forums, and startup pitching.

45 major companies and ICT (Information and Communication Technology) orders from eight Latin American countries, including Brazil, Mexico and Chile, participated in the business meetings, conducting more than 200 meetings with 13 Korean companies.

KOTRA said that Mexico's largest distributor FEMSA, Columbia Branch of Spanish telecommunications company Telefonica, Guatemala's Superintendencia de Telecomunicaciones (SIT), and State of Pernambuco in Brazil have shown interest in Korea's innovative technologies.

During the event period, KOTRA signed MOUs with "Invest Parana," an investment promotion agency of Parana state, known as Brazil's breadbasket, and "Invest Rio," an investment promotion agency of Rio City.

Jung Oiyoung, Executive Vice President for Innovative Growth of KOTRA, said "KOTRA will continue to strengthen cooperative projects with IDB, which have been going on since 2011, and to help more Korean companies enter the ICT market in Latin America."

wise@yna.co.kr

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Source: Yonhap News (July 28, 2024)

** This article was translated from Korean.