Global South Countries: Where South Korea could be a model 

The importance of the Global South nations is growing day by day. By the term 'Global South' we generally understand a set of emerging and developing countries in Asia, Africa and Latin America. With their large populations, natural resources and other assets, Global South nations have the vital role and voice in the regional or international community. This is where the world’s future markets lie. The Global North nations pay attention and place great importance on strengthening ties with the Global South. How has South Korea been playing its role as a model reshaping the development in the distinct areas in Global South countries?

We know that South Korea has risen from the ruins of war and poverty. However, it has, already, been truly able to transform itself from an aid recipient into a donor country. South Korea is a special country that possesses some powers, capabilities and experience all at once in economic, technological, democratic governance and development areas. Basing on the density of its network and building on these powers, capabilities and experience, South Korea can play a role bridging between advanced and developing nations and in shaping international norms. The country has been demonstrating its influence by initiating various activities within international community; for example, hosting and organising numerous multilateral meetings, the G20 Seoul Summit, connecting countries and leading specific agendas. One can argue that South Korea's capabilities in development cooperation, public health and digital sectors are surely its important assets. The country, based on these capabilities, seeks to establish itself as a trusted coordinator and facilitator in some areas including supply chain resilience, climate response, public health cooperation and digital public goods etc. The country has indeed been able to make it an exemplar of 'Korean model' by offering proven experience and institutional capacity that others seek to emulate.

South Korea is the 5th largest foreign investor in Bangladesh, with FDI exceeding $1.56 billion across more than 150 companies. Nearly 80 per cent of Korean investment is concentrated in the Ready-Made Garment (RMG) and textile sector, employing over 150,000 workers.

The current Korean government, which took office in June 2025, is dedicated to advancing its Global South policy focusing on deepening the relationships with Asia’s emerging economies. The government has used the term “Global South” in its 123 National Policy Agenda.  It has been bearing the intention to upgrade partnerships.

Let me share the key investments and partnerships between South Korea and India. Samsung Electronics inaugurated the world’s largest mobile factory in Uttar Pradesh in 2018 and India has been its main smartphone-producing location. We know that Hyundai Motor has its largest overseas manufacturing base in India, with its Tamil Nadu factory producing 762,900 cars in 2024-25; it plans to expand production capacity to 1 million by leveraging a new factory in Maharashtra. In Andhra Pradesh, LG Electronics is also constructing a large factory. And it is expected that when completed, its three factories in India will have the capacity to produce 4.7 million air conditioners, 3.75 million washing machines, 3.6 million refrigerators, and 2 million televisions. Korean investment in India covers not only manufacturing but also diverse sectors such as R&D, games, and finance. It would be fair to comment, based on the two countries' strength, that by working together, there is great potential to reinforce value-chain resilience and economic security; and the sectors including defence and shipbuilding where the interests of both countries are clear.

There has been a strong tie and relationship between South Korea and Bangladesh on bilateral trade, investment, manpower cooperation and development cooperation etc. We know that the major export items of Bangladesh to the Republic of Korea are: woven garments, knitwear, home textiles, leather, and leather products including footwear, frozen food, ceramic items, pharmaceuticals, jute & jute goods, tents, and synthetic ropes. The major import items of Bangladesh from the Republic of Korea are: Iron and steel, plastics, and articles thereof, machinery, mechanical appliances, boilers; paper and paperboard; articles of paper; Tanning or dyeing extracts; tannins and their derivatives, etc. RMG dominates Bangladesh’s export products to Korea. Bilateral trade between the two countries has witnessed growth in recent years. 

If we closely look at the South Korea-Bangladesh Investment, we find that South Korea is the 5th largest foreign investor in Bangladesh, with FDI exceeding $1.56 billion across more than 150 companies. Nearly 80 per cent of Korean investment is concentrated in the Ready-Made Garment (RMG) and textile sector, employing over 150,000 workers. In May 2026, Bangladesh and South Korea signed a framework for cooperation in semiconductor research, commercialisation, and talent development.  Investment is growing in export processing zones (EPZs), such as OCF Co Ltd's tent manufacturing in Mongla EPZ. Both nations are negotiating a Comprehensive Economic Partnership Agreement (CEPA) to enhance trade. 

While historically part of the Global South economically, South Korea has achieved "developed" status and typically aligns with Western capital interests, making it a "donor" rather than a true peer in the current Global South bloc. Unlike the import-substitution models used by many developing nations, South Korea focused on building globally competitive industries, starting with light manufacturing, and transitioning to heavy industry and advanced technology. It is apparent that South Korea has been strengthening its economic footprint in South Asia, serving as a role model, particularly in Bangladesh and India, and aiming to increase bilateral trade and manufacturing cooperation.