The Ministry of Foreign Affairs and Trade, along with the Ministry of Strategy and Finance, Ministry of Knowledge Economy, Ministry of Land, Transport and Maritime Affairs, Ministry of Culture, Sports and Tourism, and Ministry of Environment, hosted the 2009 High-Level Forum on Korea-LAC (Latin America and Caribbean) Partnership on November 10-11. The event was held to discuss the current state of cooperation between Korea and Latin American countries and seek ways to promote their relations in the years to come.

Some 500 figures -- including Chilean President Bachelet; sixteen ministerial-level officials from 12 South and Central American countries related with trade, energy, infrastructure and culture; the President of the Inter-American Development Bank; and heads of relevant government agencies, business leaders and scholars of Korea -- attended the event, showing a high interest in the South and Central America.

In their in-depth discussions on trade and investment; energy and resources; cultural industry; development and finance; green growth; environment; and other diverse fields, the Forum participants shared the view that Korea and South and Central America have an enormous potential for cooperation.

The ministers from Latin American countries, during their visit to Korea for the Forum, had meetings with related government agencies of Korea to bolster the foundation for bilateral cooperation in a variety of sectors.
  
   ◊ Brazil’s Ports Minister Pedro Brito hosted a seminar on investment in Brazil.  
      Also, he expressed interest in high-quality standards of Korean bullet trains by 
      taking a test ride as well as a tour of railway facilities.

   ◊ Colombia’s Energy Minister Hernan Martinez Torres and Director Armando
      Zamora of the National Hydrocarbon Agency held Colombia’s 2010 Oil Bid
      Roadshow. Some 20 Korean businesses, including SK Energy, the Korea
      National Oil Corporation, and Daewoo International Corp., attended the event
      and conveyed a high interest in entering South and Central American markets.
  
   ◊ Ecuador's Oil and Mining Minister Germanico Pinto held a meeting with
      Knowledge Economy Minister Choi Kyung-hwan, Korea Resources Corporation
      President Kim Shin-jong and Korea National Oil Corporation President Kang
      Young-won, in which they explored the possibility of Korean firms’ investment
      in oil and minerals development in the country.
  
   ◊ Costa Rica’s Planning Minister Roberto Gallardo and the Ministry of Knowledge
      Economy concluded an MOU (Memorandum of Understanding) on E-learning
      cooperation, paving the way for full-swing entry of Korea’s outstanding
      E-learning contents and related technology into Costa Rica.
  
   ◊ Uruguay’s Economy Minister Alvaro Garcia signed an agreement on cooperation
      between the Korean Intellectual Property Office and Uruguay’s National Agency
      for Research and Innovation. With the conclusion of the said agreement, Korea
      and Uruguay are expected to see strengthened exchange of patent information
      and cooperation in informatization and in education sector. 

Diverse events were held on the sidelines of the Forum, contributing to enhanced understanding on South and Central America as well as substantive cooperation between Korea and the said region.

The High-Level Forum on Korea-LAC Partnership, held on the heels of the 2008 Korea-Latin America Economic Cooperation Forum, has established itself as an important platform for dialogue between the governments of Korea and Latin American countries, facilitating outlooks on developmental future of and expanded cooperation between the two regions. The Foreign Ministry plans to host the Forum annually in a bid to continue strengthening momentum of cooperation between Korea and South and Central America.