The competition between Korea, China and the USA in Latin American markets: an analysis based on comparative advantages matrices

This article analyzes the competitive positioning of South Korea, China, and the United States in Latin American markets between 2000 and 2024, aiming to identify Korean export opportunities and examine their relationship with competitors’ specialization. The analysis uses UN Comtrade data and comparative advantage matrices calculated for HS-5 products across five subperiods. The results reveal a transformation in the region’s competitive structure, with the United States remaining the most diversified supplier and China consolidating its position across a broad range of manufactured goods and industrial inputs. South Korea, in contrast, exhibits a more concentrated specialization in industrial niches and technologically sophisticated products. The findings suggest that Korea’s opportunities for export expansion are selective and concentrated in sectors such as machinery, transport equipment, measurement instruments, specialized components, and other technology-intensive manufactured goods. These results point to the importance of targeted export promotion strategies focused on technological capabilities, product differentiation, and specialized industrial segments.