After years of collaborative relations, in 2018 the Republic of Korea expresses its interest and formalizes through the signing of the instrument of adhesion and the shareholding agreement to be part of the member countries of the Bank. Its incorporation is possible thanks to the modifications made to the Constitutive Agreement in June 2016 and its objective is aligned with the Bank's commitment to promote economic integration and social and economic development of the Central American region.
Korea is one of the largest economies in Asia and the world; a leader in technology and innovation; and one of the most successful stories of global economic development. The Central American region will benefit directly from its link to CABEI. As a donor country, Korea channel technical assistance and cooperation resources to support the Bank's mission of promoting the economic integration and balanced economic and social development of the Central American region.
The Republic of Korea has been an observer member of the Central American Integration System since 2012 and maintains important commercial links with the region, which will be further enhanced through its incorporation into CABEI and through the Free Trade Agreement with Central America; the latter's negotiation process was supported by the Bank.