Central American development bank to run investment campaign in Korea

By Yi Whan-woo

A development bank for Central America will host a promotional campaign in Seoul, Busan and Ulsan for a week from Tuesday, to facilitate investments from Korea in Central American countries.

The Central American Bank for Economic Integration (CABEI) campaign will draw support from both the public and private sectors, Korea's Ministry of Economy and Finance said Monday./

Logo of the Central American Bank for Economic Integration (CABEI) / Captured from CABEI website

Established in 1960, CABEI is committed to promoting economic integration and balanced economic and social development in Central America.

It is especially dedicated to safeguarding democracy, tackling climate change and other key issues concerning SICA, the Spanish acronym for the economic bloc of eight countries ― Belize, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Panama.

The weeklong campaign will take place as Korea is one of CABEI's 15 members since December 2019.

About 40 top-ranking CABEI officials will take part.

Korea Electric Power Corp. (KEPCO), Korea Gas Corp. (KOGAS), and Korea Railroad Corp. (Korail) will be among the Korean public-sector participants.

From the private sector will include Hyundai Motor, Hyundai Heavy Industries and Hyundai Rotem.

The events in Busan and Ulsan will center on visits to industrial sites for logistics, hydrogen energy, railway and shipbuilding as well as investment seminars.

The Seoul events will focus on bolstering support for Korean businesses that have advanced into Central American countries by resolving business obstacles and enhancing their networks in the region.