{"id":2201569,"date":"2023-07-03T08:00:30","date_gmt":"2023-07-02T23:00:30","guid":{"rendered":"https:\/\/koreapro.org\/?p=2201569"},"modified":"2023-07-02T23:11:52","modified_gmt":"2023-07-02T14:11:52","slug":"prime-minister-han-boosts-south-koreas-diplomatic-presence-in-the-caribbean","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/07\/prime-minister-han-boosts-south-koreas-diplomatic-presence-in-the-caribbean\/","title":{"rendered":"Prime Minister Han boosts South Korea\u2019s diplomatic presence in the Caribbean"},"content":{"rendered":"
South Korean Prime Minister Han Duck-soo <\/span>embarked<\/span><\/a> on an 8-day diplomatic trip to Trinidad and Tobago and Panama on July 2, with an agenda centered around fostering development collaborations with Central and South American countries and garnering support for Busan\u2019s 2030 World Expo bid. Marking a historic first attendance by a South Korean leader, Han will attend the 45th Caribbean Community (<\/span>CARICOM<\/span><\/a>) Summit in Trinidad and Tobago, where he plans to present strategies to bolster South Korea-Caribbean collaboration, such as the creation of a Korea-Caribbean Marine Joint Research Center and an Agricultural Technology Innovation Platform. In addition, Han is expected to propose a Memorandum of Understanding (MOU) between South Korea\u2019s Ministry of Strategy and Finance and the Caribbean Development Bank to provide a framework for tailored development cooperation.<\/span><\/p>\n The latter part of Han\u2019s trip will see him making an official two-day visit to Panama on July 5, marking the first such visit by a South Korean leader since 2010. He is expected to meet with Panamanian President Laurentino Cortizo to discuss the expansion of bilateral cooperation in fields including trade, investment, infrastructure, resources and energy. Moreover, Han plans to visit the construction site of the Line 3 metro in Panama City, a major infrastructure project involving Korean corporations, signifying the broadened scope of Korea\u2019s international cooperation and developmental support.<\/span><\/p>\n Why It Matters<\/b><\/p>\n Prime Minister Han Deok-soo\u2019s visit to Trinidad and Tobago and Panama, including his participation in the Caribbean Community (CARICOM) Summit, signals South Korea\u2019s commitment to deepening relationships with Latin American and Caribbean nations. Han <\/span>delivered<\/span><\/a> a keynote lecture at the Economic Commission for Latin America and the Caribbean (ECLAC) in Chile in Oct. 2022, highlighting the need for enhanced cooperation between South Korea and Latin America. While not a Caribbean nation, Chile is the world\u2019s <\/span>second-largest producer of lithium<\/span><\/a>, a key component in batteries used in electric vehicles.<\/span><\/p>\n South Korea stands to gain from expanded partnerships with Latin American and Caribbean nations, especially given the discovery of large deposits of <\/span>rare earth minerals<\/span><\/a> in Jamaica, which are critical for advancing a sustainable, green economy. South Korea\u2019s interests also extend to seeking support for its bid to host the 2030 World Expo, and Caribbean nations\u2019 backing could significantly bolster its prospects.<\/span><\/p>\n South Korea\u2019s engagement with the region also aligns with its <\/span>Indo-Pacific Strategy<\/span><\/a>, which underscores its intention to bolster regional multilateral cooperation networks. This includes interaction with Latin American and Caribbean regional communities such as the Pacific Alliance, which comprises Chile, Colombia, Mexico and Peru and blocs like <\/span>Mercosur<\/span><\/a>, <\/span>SICA<\/span><\/a> and CARICOM.<\/span><\/p>\n