LIMA, March 17 (NNN-ANDINA) — Korean investment in Peru amounted to US$6.7 billion and was mainly concentrated in the mining sector, said Choi Jong-uk, the Ambassador of South Korea to Peru.
“South Korea’s direct investment in Peru is concentrated in the mining industry, which represents approximately 95% of the total direct investment,” the diplomat said in an interview with Andina news agency.
In this regard, he affirmed that the Korean government sees Peru as an important cooperation partner.
Proof of this is that the bilateral trade volume amounted to US$3.6 billion in 2023 and that Korea is currently Peru’s fourth trading partner.
With regard to mining, Choi Jong-uk highlighted the liquefied natural gas development project carried out by the Korean company SK Innovation, as well as investments made by Korea Zinc in a mine from which said mineral is extracted.
He also referred to the participation of the LS Nikko in copper extraction mining activities, as well as the investment that STX has made in activities linked to the exploitation of lithium.
The ambassador believed that Peru provides economic security for these investors.
That“includes security of the supply chain for the main strategic minerals,“he said.
According to the Korean envoy, there are approximately 20 Korean companies engaged in commercial activities in Peruvian territory, among which are brands with a global presence, such as LG, Posco, Samsung and SK. — NNN-ANDINA
