Asunción, Agencia IP.- The Vice Minister of REDIEX, Javier Viveros, together with Senior Export Specialist Jimmy Kim, presented Paraguay’s potential as a strategic destination for the establishment of factories and regional expansion of Korean companies, as part of the official mission to South Korea.
The delegation was received at the Korea Automotive Technology Institute (KATECH) by its Executive Director, Yang Jeongjik, where Paraguay’s comparative advantages for the installation of auto parts and clean technology plants were showcased, highlighting its strategic location, maquila regime, tax incentives, and competitive production costs.
During the meeting, the Vice Minister detailed the advantages that Paraguay offers for business establishment, including preferential access to MERCOSUR markets and a regulatory environment that promotes investment in clean energy, electromobility, and advanced manufacturing.
The delegation also toured the KIC shock absorber plant, where they discussed concrete possibilities for regional market expansion, leveraging Paraguay’s logistical proximity to Brazil and Argentina.
The engagement with KATECH reinforces an already existing cooperation alliance. In February 2023, the Ministry of Industry and Commerce (MIC), together with the Korea Institute for Advancement of Technology (KIAT) and KATECH, signed an agreement to develop an auto parts manufacturing center for electric vehicles in Paraguay.
The project envisions the installation of a technological center at the Itaipu Technological Park (PTI) in Hernandarias, as part of the national strategy to promote electromobility.