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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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Inter-American Development Bank (IADB)

Monographs

Korea: Breaking the Mold of the Asia-Latin America Relationship [October 2011]

http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=36472107

[full-text, 38 pages]

Over the past two decades, bilateral trade between LAC and Korea has expanded rapidly, growing at an annual average rate of 16.1%. This is a faster rate of growth in trade than LAC experienced with East Asia (15.1%),1 the U.S. (9.8%), the European Union (E.U.) (7.4%) and Japan (7.7%). Only trade with China grew at a more rapid pace (27.5%). Despite this remarkable dynamism, Korea’s share of LAC’s trade is still fairly small. Since 1990, its share has risen from a little over 1% to 2.5%, whereas China’s share reached the 13% mark in the same period. LAC’s share of Korea’s trade, though, is higher (5.1% in 2010) and not very different from the region’s share of China’s trade.

CONTENTS

Acknowledgments/  v

Introduction/  1

Bilateral Trade: Small But Booming/  3

With Some Hope of a More Balanced and Diversified Relationship/  5

But Important Barriers Still Remain in Relation to 

Tariffs and Non-tariff Measures…/  11

…and Transport Costs/  15

Some Important But Still Limited Initiatives to 

Address These Obstacles/  17

Investments are Following Trade, but Only on the Korean Side/  19

Cooperation is on the Rise/  25

Summing Up: Taking Opportunities to Break the Mold/  2

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 262-6041               
Fax: (607) 255-9641                       
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