Recently the global Southern countries such as Brazil, China, India, South Africa and other emerging economies have grown much more rapidly than other developed economies. These new moves of power configurations have been allowed to present a different landscape of North?South relations on the international scene. While this traditional North?South phenomenon has been modified in terms of political, economic and social aspects; the South is actively working in the fields of international development cooperation. More and more several Southern countries are playing a role as the influential providers of the international development cooperation activities. Therefore, the fast growing moves of South?South development cooperation is complementary to the North? South relationship. The new mechanisms as one of the effective tools opened up the significant possibilities to establish the new patterns for the horizontal partnerships across them. In the light of all changes today in the development cooperation standpoints, this paper aims to conduct a brief analytical study on the major performances and characteristics of the South?South and the triangular cooperation between Korea and Latin America in the context of the ODA(Official Development Assistance). Throughout the historical antecedent of Korean ODA, which has been the recipient and donor to developing countries, the process of its initiation and development of the ODA to Latin America has been formed.
Therefore, firstly we address the elements of international cooperation and particular situation in terms of political and economic positions of Korea. That is the way how we can consider to define the current position of this country belong to the Southern donor or North, according to the criteria defined by the international community. Secondly, we mainly analyze the situation of Korean ODA to Latin American countries and observe its principles, strategies and modalities by focusing on the official statistics of the Korean government and related ODA institutions. Korea had been a major recipient of international ODA in the fifties and sixties, however since 2010, it has been emerged as a member of the DAC(Development Assistance Committe) by adopting current DAC norms and standards. In November of 2011, it presided over HLF?4(the Fourth High Level Forum on Aid Effectiveness) in Busan, which is the second largest city in Korea. Finally, throughout an analysis of the practical cases of SSC and the good examples identified by international community, we reflect on the main results and its capacity to contribute to improve the aid effectiveness for Latin America. In addition, this paper also takes into considerations about the potentials and challenges of Korean ODA toward Latin America by drawing attentions to the synergy and benefits from the SSC in order to improve effective SSC and triangular cooperation in reciprocal terms.