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South Korea wants to become El Salvador’s benchmark, predicts rapid growth

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They said the South Korean delegation visited El Salvador to explore strategies that would benefit both South Korea and El Salvador.

They said the South Korean delegation visited El Salvador to explore strategies that would benefit both South Korea and El Salvador.

During a visit to El Salvador, Jang Seong-min, South Korea’s presidential secretary for future strategy, confidently predicted El Salvador’s rapid economic growth, noting that education should be a fundamental pillar.

“I want you to also designate countries like South Korea to achieve greater growth,” he told a meeting with Salvadoran journalists, explaining the key to achieving South Korea-like development with Japan as the benchmark. said while

He pointed out the keys to developing human resources, benchmarking countries to transfer experience and technology, and economic policies that match domestic and foreign factors. “The most important thing in this whole process is leadership,” he explained.

Bukele has the leadership to do so, according to officials, “based on communication with the people” and with “unprecedented” public approval. I am confident that we will achieve it,” he said.

South Korea’s growth is based on human talent, that was the key. I think education is an area that the government of El Salvador should be concerned with. ” Jang Seung-min, secretary.Korea strategy

Chan met with El Salvador’s president for 1 hour and 40 minutes on Thursday, during which the president asked questions about economic growth. Officials invited him on an official visit so he could see the South Korean experience.

“Lots of possibilities.”

A senior South Korean official assured that his government aims to uphold and work with the three values ​​of freedom, peace and economic prosperity. ‘ will be achieved, he explained.

He argued that the Salvadoran Constitution and Bukele’s presidential administration “focus on freedom, prosperity and peace, just like South Korea.” He spoke out in favor of political and economic freedom, as well as respect for sovereignty and non-interference.

“The two countries have the potential to work together in respecting human rights, including political, economic and press freedom,” he added.

The digital sector is likely to be the engine of future growth, and South Korea is at the forefront of this sector, with KOICA promoting the project alongside ITCA (Race). Lee Jong Wook, Koica Latin America Director

Cooperation.

South Korea and El Salvador have had 60 years of diplomatic relations. From 1988 to 2022, he will contribute $92 million to her. By 2023, they will back mid-term projects with his $10.5 million.

These South Korean cooperative projects in El Salvador focus on three areas: public safety, public health and digital transformation.

Multi-year projects include installing cameras for vehicle identification, building surveillance centers, health centers, critical neonatal maternal transport, and telemedicine.

It also includes the creation of careers related to the Fourth Industrial Revolution and the establishment of a digital innovation center that will benefit El Salvador’s 1,500 agricultural or tourism entrepreneurs.

The South Korean government also provided a $210 million soft loan for the expansion of the Los Choros Expressway and Viaduct, bringing the total investment to $430 million. South Korean Ambassador to El Salvador Joo Won-hoon emphasized that these activities in Los Choros will not only improve the quality of life of road-moving people, but also increase the competitiveness of the country.

3 facts you should know

1.- Diplomatic Relations

Diplomatic relations between the Republic of Korea and the Republic of El Salvador were established on August 30, 1962. The two countries have been on friendly terms for her 60 years.

2.- Foreign trade
El Salvador’s biggest exports to South Korea are sugar and coffee. The largest imports from South Korea are vehicles and rolled products.

3.- Free trade agreements
El Salvador and South Korea signed a free trade agreement (FTA) in 2018, which entered into force on January 1, 2020.

Source: Diario Elmundo

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