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An isthmus is a narrow strip of land. Central America is an isthmus connecting North and South America. The narrowest part of the Central American isthmus is Panama.
Panama has a population of 3.5 million inhabitants, which is about 25 percent of the amount of people living in Seoul. Unlike Korea, we have a very mixed population: 10 percent are white, mostly Spanish descendants, 15 percent are black, 6 percent are Native American and 70 percent are mestizos (a mixture of the three groups above). Additionally, large numbers of Chinese, Colombians, Venezuelans and United States citizens live in Panama.
France started the construction of the Panama Canal prior to 1900. Their efforts failed. The United States took over and completed the construction from 1904 to 1914, being able to connect the 80 kilometers that separate the Atlantic Ocean from the Pacific Ocean, creating the Panama Canal, a key asset of the maritime global trade.
The Panamanian economy is focused on the service sector (80 percednt), with agriculture and industrial sectors accounting for the rest. Major Panamanian service activities are telecommunications, finance, banking, transportation and warehousing, logistics, construction and tourism.
Relevance of Panama for Korea
For the first time in 50 years, Hyundai is the No. 1 selling car in Panama, displacing Toyota.
Samsung and LG have very important offices in Panama and their products are the preferred choice in the electronics sector of Panamanians (tablets, cellphones, televisions and computers).
Korea Exchange Bank, which settled in Panama more than 30 years ago, continues to be the only Korean bank in the country. This bank not only manages the accounts of many Panamanians but also employs Panamanian workforce.
Panama is the world leader in ship registration with 9,000 flag vessels worldwide. Twelve percent of these ships’ owners are Korean.
Korea is among the top five of the users of the Panama Canal. The water shutoff valves between recycling basins and the new locks are built and will be installed by Hyundai Samho. Also, Hyundai Samho plant will provide electrical power for the works of the Panama Canal expansion. Hyundai Engineering and Construction competes to build a new bridge over the Panama Canal.
SK Energy will provide power to a mining operation in the Province of Colon, Republic of Panama, and we are inviting Korean companies to evaluate the possibility of building shipyards in Panama.
Finally, both countries will start negotiating a free trade agreement in 2013. When this comes into force, this accord should further promote Korean investment in the Central American region.
Celebrating 50 years of friendship
In September 2012, Panama and Korea marked 50 years of diplomatic relations. This celebration took a special impulse, because President Lee Myung-bak visited Panama in June 2010 and the president of Panama visited Korea in October 2010. Both leaders are successful entrepreneurs, and managed to get along easily establishing strong bonds of friendship. This good communication and chemistry between the leaders has permeated all levels of the civil service of both countries.
For the anniversary we celebrated in various ways: commercial events such as promotion of Korean investments in Panama and Panamanian coffee promotion in Korea. Cultural events included three musical concerts.
Jazz Diplomacy
The musical event with which we celebrated the 50th anniversary consisted of three concerts performed by Panamanian jazz maestro Danilo Perez. His first concert in Korea with his original members was held in the Gwangju World Music Festival and second held at the "Once in a Blue Moon" in Seoul. The third concert was recorded and broadcasted on the EBS television program Space.
Jazz Diplomacy is powerful because it has no language limitation. Korean speaks Korean and Panamanian speaks Spanish. However that gap is closed through the universal language of music. Jazz, to say it with the words of Danilo Perez, “it is the essence of music,” hence its power to bond and with hold.
The author is Panama’s ambassador to the Republic of Korea.
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