Ecuador is a main oil-producing and rich mineral resource country in Latin America and is expected to
serve as a source of resources for Korea to secure in the future. In addition, since it plays an active role
in the major organizations and economic blocks in the region, it is also a valuable bridgehead for the
advancement of related regions. The Ecuadorian government is one of the most influential members of the
leftist governments of Latin America and is trying to sign a free trade agreement with Korea. Moreover,
the cooperation between the two countries is expanding, since the ECUAPASS system based on the
E-clearance system of Korea is operated in its own country from 2012. In particular, the domestic market in Ecuador has a relatively high chance of occupying a pre-emptive position through early entry because
the entry of certain countries is relatively inactive. Therefore, this study examined the economic trends and
indicators of Ecuador with various advantages and potentials in terms of economic trade and industrial
trade, and the current status and characteristics of trade with Korea. And this study investigated various
factors affecting bilateral trade with various environments. After SWOT analysis, various effective measures
for trade promotion and entry between Korea and Ecuador are presented.