The Paraguayan Congress approved a proposal made by South Korea, with an estimated 15 million dollars in the form of non-repayable Official Development Assistance (ODA) to promote electric mobility in the country.
With the sanction in an extraordinary session of Deputies, with 51 votes, on December 17 last, it was sent to the Executive Power.
According to the La Nación newspaper, the bill “approves the memorandum of understanding for cooperation between the government of the Republic of Korea and the government of the Republic of Paraguay, aimed at establishing the Paraguayan Center for Recommendations and Technological Solutions from Korea (TASK) for the advancement of auto parts and pilot plan for electric mobility”.
You may also read: Paraguay Steps Towards Sustainable Mobility with New Electric Buses
Work stages
This Memorandum of Understanding (MOU) was signed on October 26, 2020 by Her Nam Yong, president of Korea Automotive Technology Institute (Katech), and the then minister Liz Cramer, as head of the Ministry of Industry and Commerce.
On November 3, 2023, that state portfolio sent the proposal to the Senate, which gave it partial approval on October 16, 2024.
Deputy Juan Manuel Añazco, president of the Foreign Relations Commission, highlighted that the agreement will boost the development of the Paraguayan automotive industry, strengthening technological innovation in auto parts manufacturing; and will implement a pilot plan for electric mobility with the aim of promoting competitiveness in the automotive industry in Paraguay, through technological cooperation.
He spoke about the importance of promoting knowledge exchange for innovation and sustainable development, establishing a favorable ecosystem for auto parts production and electric vehicles.
Likewise, the sending of Korean experts in automotive production, technical education, and electric mobility and equipment in general.
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