Opportunities - Cámara de Comercio de Bogotá

There are huge possibilities in the agricultural and agro-industrial sectors that would increase the trade of this type of goods.
It is necessary to identify the Korean demand for agricultural, agro-industrial, and manufacturing products and the quality and volume requirements.
South Korea is the eighth largest agricultural importer in the world.
The Colombian government considers that the agricultural and agro-industrial sector stands out as one of the big winners in the FTA with Korea.
Many categories exported by Colombia in the manufacturing and agribusiness sectors are among the most imported by Korea.
There are opportunities to increase exports to Korea in sugar, panela, confectionery, biscuits, jams and marmalades, meats, hides and their manufactures, beauty products, agrochemicals, organic, agricultural, agro-industrial products, machines and appliances, plastics, chemicals, pharmaceuticals, and confections.
The participation of Colombian companies in Korean fairs serves to contact clients and to explore distribution channels.

There are opportunities to provide South Korean services, such as consulting, professional, telemedicine, and BPO.
Main opportunities identified in some of the subsectors that make up the orange economy:
- Video games: approximately 50 % of the South Korean population are consumers of their Smartphones.
- The audiovisual industry: Colombia can become a partner for the audiovisual production and post-production of series and films from South Korea. Not only can it adapt the productions for the Latin market, but it can also be the HUB for their distribution and provide audiovisual production services. With its varied ecosystems, the country's diversity makes Colombia an excellent location for audiovisual products. In addition, they have high-level directors who are internationally recognized for the quality of their work.
- Tourism: Colombia has great potential to become the most attractive country in the region for Korean tourists.

Colombia has a very important legal stability for investors and national companies in the BPO sector. The privileged geographical location has importance in connectivity issues that generates confidence in terms of operations.
Both factories, distributors, and stores selling big brand products in South Korea require outsourcing services that Colombia can provide and promote.
Colombia can offer the South Korean investor a platform to place their product more efficiently in the United States - nearshoring.
Several sectors are considered of interest to Korean investors in Colombia: agribusiness, clothing, nature tourism, cosmetic industry, shipyards, information, and communication technologies, renewable energy and green infrastructure, 5G technology, technology parks, and videogames.
Opportunity in technology parks: Thanks to the support of the Korean government, Colombia launched a strategy of science, technology, and innovation parks.
Opportunity in Videogames: Colombia has approximately 60 videogame development firms with great technical capacity and high creative potential capable of attracting Korean investors.
Green infrastructure: Korea is a leading country in this area, and Colombia has received Korean investment in this sector.

The FTA highlights the following areas of cooperation: agriculture, fishing industry and aquaculture, forestry, maritime transport, information and communication technologies, mining and energy resources, small and medium-sized enterprises, industrial and commercial areas, science and technology, tourism, and culture.
Green growth: South Korea's experience and cooperation in green growth represents an opportunity for Colombia to implement its green growth policy.
Innovation and entrepreneurship: a very important opportunity for Colombia, which is in the implementation stage of the Orange Law.