South Korea has become an observer to the Pacific Alliance, a Latin American economic bloc, the foreign ministry said Wednesday.
The Pacific Alliance, launched in June last year, groups Chile, Colombia, Mexico and Peru and aims to strengthen their joint competitiveness through free trade. It now has 20 observer nations, including South Korea.
The ministry said the tie with the bloc would enable South Korea to be ready for a possible link between the Pacific Alliance and the U.S.-led Trans Pacific Partnership. (Yonhap News)
