- Discussions focused on advancing innovation and inclusiveness for a digital society in the future with 10 Latin American countries

- Signing of an MOU between MSIT and the Inter-American Development Bank (IDB) for collaboration in science, technology, and the digital sector

On Wednesday, October 30, the Ministry of Science and ICT (Minister Yoo Sang-im, hereinafter referred to as “MSIT”) successfully held the 4th Korea-Latin America & Caribbean Digital Ministerial Conference at the Sofitel Ambassador Hotel in Seoul. This marked the first ministerial conference since COVID-19, making it a significant occasion to strengthen digital cooperation with Latin American and Caribbean countries after a 7-year pause.

The Latin American and Caribbean region, home to approximately 650 million people and a GDP of $6.25 trillion (6.21% of global GDP in 2022), is an essential market rich in energy, minerals, and food resources. Its importance as a production base for the North American market continues to grow. With many Latin American and Caribbean countries accelerating digital transformation and recognizing Korea as a key partner in this endeavor, there is substantial potential for mutual cooperation, creating new opportunities for Korean companies in the region.

This conference, the first since the third ministerial meeting held in Busan in September 2017, was a particularly meaningful occasion. High-level representatives from 10 Latin American and Caribbean countries—including ministers, vice ministers, ambassadors, IDB representatives, and experts—gathered to discuss digital cooperation strategies.

* Previous Meetings:

The 1st Korea-Latin America & Caribbean ICT Ministerial Forum (October 2013, Seoul), the 2nd Korea-Latin America & Caribbean ICT Ministerial Forum (September 2015, Punta Cana, Dominican Republic), and the 3rd Korea-Latin America & Caribbean ICT Ministerial Meeting (September 2017, Busan)

** Participating Countries: 

Dominican Republic, El Salvador, Peru, Guatemala, Ecuador, Panama, Uruguay, Argentina, Colombia, Chile

Korea has previously shared exemplary digital transformation practices with Latin American and Caribbean countries, including initiatives in the digital economy, digital infrastructure, broadband, digital education platforms, and e-government development. These efforts have yielded tangible results in the region, helping to build ICT infrastructure and bridge the digital divide, which has positively influenced Korean companies’ business expansions into the region. Notable examples include the Latin American ICT Education Center (CEABAD) established in 2014, the Global Cybersecurity Center for Development (GCCD) in 2015, and a telecommunications infrastructure project in Nicaragua in 2017.

During the conference, MSIT renewed an MOU with the IDB to strengthen the cooperation platform, supporting the expansion of digital infrastructure and adoption of innovative technologies in the region. Key elements of the MOU include sharing best practices, promoting digital infrastructure, enhancing capacity and governance, networking, and personnel exchanges. The MOU aims to create a sustainable and long-term partnership with Latin American and Caribbean countries in the digital transformation sector.

※ (IDB Cooperation Project) Using the IDB trust fund, Korea operates a Knowledge Sharing Program (KSP) that provides technical cooperation, policy consultation, joint consulting, and case studies to share Korea's best practices.

In his opening remarks, Minister Yoo introduced achievements of economic and social development driven by digital technologies and the Korean government's strategy to become one of the world's top three countries in AI, which was presented by President Yoon Suk Yeol last month, while also sharing the importance of enacting the AI Act. He also emphasized that digital transformation requires not only technological innovation but also expanded digital inclusivity to positively impact economies and societies.

The ministerial conference provided an opportunity for exchange of policy visions and experiences among participating countries, focusing on improving digital connectivity for all, enhancing capacity, and building an innovation ecosystem through new technologies. During a cybersecurity expert session, Korean cybersecurity policies and technological achievements were shared, establishing a foundation for strengthened digital security cooperation with Latin American and Caribbean countries.

The Statement of the chair, adopted as an outcome of the conference, emphasized enhancing digital connectivity, developing an inclusive digital economy, and achieving a safe and sustainable digital transformation through new technologies. This statement is expected to contribute to the establishment of sustainable digital economies in Latin America and the Caribbean.

Minister Yoo concluded by stating, “MSIT will proactively contribute to strengthening digital policy capabilities and bridging the digital divide by sharing Korea's policy experience,” adding that “Korea and Latin American & Caribbean countries can be invaluable partners in the journey of digital transformation.”

For further information, please contact the Public Relations Division (Phone: +82-44-202-4034, E-mail: msitmedia@korea.kr) of the Ministry of Science and ICT. 

Please refer to the attached PDF.