This study analyzes foreign direct investment (FDI) outflows from the Republic of Korea to Latin America and the Caribbean in the last two decades to identify how Korean companies are investing in the region and which lessons can be learned from this relationship. The study relies on the analysis of investment flows, greenfield projects, and mergers and acquisitions as well as on interviews with entrepreneurs and authorities and a survey conducted on a small sample of suppliers of the automotive industry in Mexico. The Republic of Korea is a valuable economic partner for countries in Latin America and the Caribbean, because the countries in the region can learn from Republic of Korea’s past and present. Furthermore, there are future opportunities that arise from this relationship given the high technological profile and environmental standards of Korean companies.