South Korea Agrees to Assist Latin America with ICT Development

South Korea has reportedly agreed to share its expertise and engineering know-how with 13 nations in Central and South America to bolster the region’s information and communication technology (ICT) development.

The agreement was signed at the 3rd Korea-Latin America ICT Ministerial Forum held in the Korean city of Busan last week.

As part of the new agreement, South Korea will help prepare blueprints for smart city projects, offer advice on regulating the ICT industry, and share its experience with promoting new technologies, such as internet of things (IoT), artificial intelligence, and blockchain.

In addition, the Asian country’s top wireless operators, including SK Telecom and KT, will conduct exhibitions in Latin America showcasing their products and solutions, as well as displaying the ways of launching 5^th generation (5G) mobile communications technology.

“We hope that Korea and Latin America will share their vision and wisdom in the era of the fourth industrial revolution and lay the foundations for common prosperity through this forum,” said Yoo Young-min, the Korean minister of science and ICT, according to the South Korean news portal Business Korea.

There are more than 400 million internet users in the 13 Latin American nations that have signed up to the agreement.

Home to renowned brands like Samsung, South Korea is competing with China to capitalize on the need for ICT infrastructure in Latin America.

Two years ago, the country joined hands with the Inter-American Bank (IDB) to fund the establishment of an international study center in Nicaragua in order to train engineers in broadband technology.