A Study on the Expansion and Development of Mutual Trade between Korea and Uruguay

Abstract

Uruguay is a member country of MERCOSUR, which is the largest interregional economic community in Central and South America. It is located in a geopolitically important region that serves as a gateway to the Central and South American market. In particular, Uruguay is gradually expanding the export and import trade and logistics industry using the advantage of domestic free zones. Uruguay has relatively stable macroeconomic indicators that rank high among the Central and South American nations. This country is making active efforts to develop its manufacturing industry along with its financial industry. Among the nations in the Central and South American regions, Uruguay is a major exporting partner of Korea. Uruguay also provides a trade surplus with Korea from the aspect of international balance. This study economic trends and indicators in Uruguay, which has significant advantages and potential from an economic viewpoint. It also examines the current situation and characteristics of trade between Korea and Uruguay to identify influential factors. On the results, the study attempts to suggest diverse plans for expanding and developing trade between the two countries.