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Innovation and SME internationalization in Korea and Latin America and the Caribbean: Policy experiences and areas for cooperation

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Economic relations between the Republic of Korea and Latin American and the Caribbean have expanded rapidly since 2000. Bilateral trade in goods increased more than fivefold, while the region has also become an important destination for Korean foreign direct investment. The region’s interest in Korea also stems from this country’s successful economic and social development experience, as it developed from being one of the poorest countries in the world to a high-income economy within less than six decades. To better understand the divergent trends in Korea and the region, this document reviews the most important innovation and small and medium-sized enterprises (SMEs) internationalization policies in both in three sections. The first section looks at the role of Latin America within Korea’s trade and integration strategy. The second reviews policies from both partners related to science, technology, innovation and labor skills. The final section focuses on SME internationalization policies. These reviews are complemented by a synthesis of recent bilateral cooperation initiatives and suggestions to increase these ties further.

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  • -, 2018. "Innovation and SME internationalization in Korea and Latin America and the Caribbean: Policy experiences and areas for cooperation," Documentos de Proyectos 44147, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    • Handle: RePEc:ecr:col022:44147
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    1. Gregory, Gary & Harvie, Charles & Lee, Hyun-Hoon, 2002. "Korean SMEs in the Wake of the Financial Crisis: Strategies, Constraints and Performance in a Global Economy," Economics Working Papers wp02-12, School of Economics, University of Wollongong, NSW, Australia.
    2. Linsu Kim*Nugent, Jeffrey B., 1994. "The Republic of Korea's small and medium size enterprises and their support systems," Policy Research Working Paper Series 1404, The World Bank.
    3. Chang,Sea-Jin, 2003. "Financial Crisis and Transformation of Korean Business Groups," Cambridge Books, Cambridge University Press, number 9780521814355.
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    Cited by:

    1. Megbel Aleidan, 2019. "Commercial Diplomacy as a Part of National Transformation and its Impact on the Internationalization of SMEs: Evidence from Saudi Arabia," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 9(9), pages 1019-1031, September.
    2. Plottier, Cecilia & Park, Yuri, 2020. "Korean FDI in Latin America and the Caribbean: A partner for sustainable development," Documentos de Proyectos 45097, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

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