Panama became independent from Colombia in Latin America in 1903. It is also expanding its role as
the largest financial base in Latin America and an important logistics base, based on geopolitical advantages
and large canals. In addition, Panama has high economic efficiency due to the use of currency in the
domestic currency of the dollar and has very good economic growth rate and the consumption market has
been activated by the newly opened Varela government's various opening policies on foreign investment in
2014. Moreover, due to the long-term progress of the government-funded infrastructure development project
and the recently concluded FTA between Korea and Latin America, future value is expected as an
important bridgehead for Korea's entry into Latin America. Therefore, this paper firstly examined major
trade, transportation and various industrial environments of Panama, and analyzed the influencing factors to
enhance understanding of Panama and suggest various ways to advance into the market in the future.