The Korean ambassador in Quito, Bongwoo Ko, talks about the main points they have in common with Ecuador, since in October they celebrate 60 years of relations, and how they could get closer. In addition to the news of your country and Asia.
How could the current relationship between South Korea and Ecuador be described in these 60 years?
In Korea, turning 60 has a special meaning as the end of one cycle of life and, at the same time, the beginning of another. In this sense, 2022 is a significant year to evaluate the current relations of both countries and contemplate 60 more years of friendship.
Ecuador is recorded in the history of Korean exports as the first country to which the Hyundai automobile company exported its first Pony car (six units in 1976) and the first foreign market in which the construction company Daewoo E & C advanced (Quito in 1976). , which represent two of the industries that led Korea’s economic development, called the “Miracle on the Han River”.
This March, thanks to President (Guillermo) Lasso’s interest in strengthening trade relations with Korea, the governments of both countries agreed to resume negotiations on the Strategic Economic Cooperation Agreement (SECA), which had been stalled since 2016. I am sure that this trade pact will allow “more Korea in Ecuador and more Ecuador in Korea”, generating more and better trade and investment opportunities.
How is the current balance of trade? What is the biggest exchange between the two and what needs to be improved?
In the last five years, annual trade between the two countries, including oil, ranges between 700 and 900 million dollars, with the exception of 2020 when there was a decrease due to the pandemic.
The productive and commercial structure between both countries is complementary. The main non-oil products shipped from Ecuador to Korea are shrimp, bananas, copper, fish, and cocoa, while automobiles, synthetic resins, auto parts, medicines, and medical supplies are Korea’s main exports to Ecuador.
In addition, we must not forget the possibility of increased technological exchanges and investment between the two countries. For example, in the automotive industry, Ecuador could strive to achieve import substitution and increase external competitiveness through cooperation with Korea, as Mexico did.
What are the results of tools such as the Technology Solutions and Consulting Program from Korea (TASK)?
TASK is an official development assistance program for Korea to promote the internationalization of the supply of Ecuador’s food processing sector, which has great potential to generate high added value and create many jobs, through the transfer of Korean know-how and technology.
So far, twelve beneficiary companies of the program have had the opportunity to be trained by Korean experts to standardize their products and increase their quality. The central result is that the products comply with strict global standards such as those of the FDA of the United States, for safety and greater export competitiveness.
In close collaboration with the Ministry of Production, Foreign Trade, Investment and Fisheries, the implementation of phase II of the Program (with an estimated budget of 10 million dollars) is being examined, which includes the establishment of a “Food TASK Center”. for the development of the food industry in Ecuador.
It is important to explore cooperation opportunities in which both parties win, in areas that can generate an important synergy effect, combining the strengths of Ecuador and Korea. In the case of TASK, the food industry of Ecuador, which is the most representative in the country, and the knowledge and technology of the Korean industry, which has a production of 70,000 million dollars and an export of 10,000 million dollars, have been combined. in food products.
What potential products could be added to this exchange from your perspective and what projections do you have for the future with Ecuador?
I believe that if the SECA enters into force and the export capacity of Ecuadorian companies is strengthened, Ecuador can expect an increase in exports of both traditional products, such as shrimp, bananas, cocoa and fish, as well as coffee, mango, avocado and pitahaya, products that attract more and more Korean consumers, improving their competitiveness in terms of price and quality. Korea is an attractive market of almost 52 million inhabitants, with a GDP per capita of $32,000.
In addition to the economic and commercial sphere, the Korean Government is directing its attention and resources to cooperation in the areas of technology and innovation (Quito Innovation Center), environment and biodiversity (National Bank of Genetic Resources of Inabio and integrated management of solid waste in Cuenca), energy and infrastructure (photovoltaic plant and microgrid system in Galapagos, smart city in Guayaquil and industrial complex in ZEDE Posorja), among others, in which both countries are working to find new engines of growth in the era of the Fourth Industrial Revolution in which we currently live.
The Government of Korea, in constant and continuous dialogue with the Ecuadorian Government, carried out and is carrying out programs and projects for the social and economic development of both nations. That will never change.
In politics of your country, how are relations with North Korea after the new ballistic tests of this? Is a closer relationship possible or has the relationship frozen again?
Korea stands by helping North Korea become a responsible member of the international community and moving towards a more transparent and open society.
However, any nuclear and missile tests by North Korea are a clear threat to peace and stability both on the Korean peninsula and the Northeast Asian region and in the world. So the Korean government is working hand-in-hand with the international community to move closer to solving the North Korean issue and improve the foundation for peace on the peninsula.
On the other hand, given the circumstances, Korea, which ranks 6th in the Global Firepower 2022 ranking and spends $50 billion on its defense budget, remains firmly committed to maintaining an uncompromising security posture and building a of crisis management in the face of any serious friction with North Korea, but prioritizing the solution of problems in a peaceful manner through dialogue and diplomatic channels.
Asia, like other continents, is experiencing tensions, but Korea’s position is not often heard much. What role does your country want to play on your continent?
In the face of geopolitical tensions and superpower rivalry in Asia, and especially in Northeast Asia, discussions on peace, stability and prosperity in the region and solidarity and cooperation between member countries, for the solution of global problems such as natural disasters, pollution, climate change and epidemics.
Korea has traditionally emphasized solving common regional or global problems through multilateral cooperation and has tried to play the balancing role as a middle power in conflict prevention and building regional order that brings peace and prosperity.
In particular, it has made efforts to strengthen the trilateral cooperation between Korea, China and Japan, and the consolidation and expansion of the medium-scale multilateral cooperation mechanism with Asean (Association of Southeast Asian Nations), India and the Eurasian Economic Union, and maintaining a firm and strong alliance with the United States. (I)
Source: Eluniverso
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