President Lee Says Korea and South America Entering a New Stage, Calls for Resumption of MERCOSUR Trade Talks

 [Financial News, San Francisco, United States = Reporter Choi Jong-geun]As President Lee Jae Myung continues his trip to the United States and three South American countries, he said on the 25th local time that relations between Korea and South America are "entering a new stage." He added that he will push to resume trade agreement negotiations with the Southern Common Market (MERCOSUR) and strengthen cooperation on critical minerals in the era of artificial intelligence.
Lee made the remarks in a written interview with Spain's EFE, which was released that day. The interview was conducted to explain the purpose of his visit to people in South American countries in Spanish.
Lee said, "MERCOSUR member states are global leaders in agriculture, food production, energy and critical minerals, while Korea is a global leader in advanced manufacturing, digital technology, shipbuilding, batteries and innovation." He added, "By combining these strengths, we can build resilient value chains that benefit both regions."
He also said that cooperation should expand toward qualitative growth, especially as trade between Korea and Brazil, Argentina and Chile has increased more than fourfold.
Lee said, "I believe our relationship is now entering a new stage." He added, "Future Korea-South America cooperation should not be defined simply as an exchange of manufactured goods for natural resources. It should become a relationship in which we create value together through innovation, investment, technology and talent."
As a key task, Lee proposed modernizing the economic cooperation framework with South America, including updating the Korea-Chile Free Trade Agreement (FTA), the country's first free trade deal, which was signed and took effect in 2004. "More than 20 years later, we now have an opportunity to modernize this agreement to reflect new areas such as digital trade, environmental cooperation, labor standards, gender equality and innovation," he explained.
After wrapping up his schedule in San Francisco, Lee will begin a state visit to Brazil on the 26th local time. On the 27th, he will hold summit talks with President Luiz Inácio Lula da Silva in Brasília, and on the 28th he will attend a business forum in São Paulo with an economic delegation that includes Chung Eui-sun, chairman of Hyundai Motor Group.
Summit talks are also scheduled with Chilean President Jose Antonio Kast on the 30th and Argentine President Javier Milei on the 31st. The meetings are expected to focus on cooperation in critical minerals, including rare earths and energy.
Regarding the importance of trade agreements, Lee said, "As protectionism spreads, geopolitical tensions rise, supply chains are disrupted and concerns over energy security grow, countries need trade based on trusted partners, clear rules and mutual confidence."
He added, "South America holds resources essential to future industries, while Korea has advanced technology, industrial know-how and investment capacity." He emphasized, "Together, the two sides can build resilient supply chains, foster new industries and create quality jobs that benefit both regions."
Lee also stressed, "Our goal is clear: to build a relationship between Korea and South America that goes beyond economic success and is deeply rooted in people-to-people exchange and cooperation for future generations."
[email protected] Choi Jong-geun Reporter