President Lee: Korea-Chile FTA Committee to Resume After 10 Years, Cooperation on Lithium and Copper

Yonhap News Agency [Financial News, Santiago, Chile = Choi Jong-geun] President Lee Jae-myung, who is on a state visit to Chile, said on the 30th (local time) that Korea and Chile had agreed to reactivate the Korea-Chile Free Trade Agreement Free Trade Committee for the first time in 10 years to review trade and investment issues, and to discuss ways to strengthen bilateral trade relations, including improvements to the mutually beneficial Korea-Chile FTA. It was the first visit by a South Korean president to Chile in 11 years.Lee made the remarks at a joint press statement after his summit with Chilean President José Antonio Kast at the presidential palace in Santiago. Lee said, "In 1949, Chile became the first South American country to recognize the Republic of Korea.And in 2004, Korea chose Chile as its first partner for an FTA. " He added, "Since the FTA was signed, bilateral trade has increased fourfold over the past 20 years, proving that our strategic choice was the right one.
" He continued, "Since establishing diplomatic ties in 1962, the Republic of Korea and Chile have expanded cooperation in a wide range of areas, including trade and investment, minerals and infrastructure, Antarctic research, and culture, based on their complementary strengths. " He added that the two countries are strategic partners that have also worked closely on the international stage based on shared values such as democracy.
Lee emphasized, "At today's summit, President Kast and I reaffirmed our shared commitment to further strengthening bilateral ties and discussed concrete ways to cooperate. " At the summit, the two leaders discussed improving the Korea-Chile FTA and agreed to further expand trade and investment cooperation for shared growth.
Lee also said, "We exchanged in-depth views on cooperation in major economic frameworks such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Pacific Alliance, and the Digital Economy Partnership Agreement (DEPA). " They will also pursue mutually beneficial, forward-looking cooperation in strategic areas such as key mineral supply chains, infrastructure, public safety, and the defense industry.
Lee said, "Chile, a major resource-rich country that ranks first in the world in copper production and lithium reserves, and Korea, a leader in advanced industries such as semiconductors and batteries, are clearly natural and ideal partners in building key mineral supply chains. " He also noted that Korean companies are steadily building the Chacao Bridge, Chile's largest state project and South America's first four-lane suspension bridge.
"Our two leaders agreed to give government-level attention and actively cooperate so that the Chacao Bridge project can proceed smoothly, become a landmark of bilateral cooperation, and contribute to the daily lives and economic activity of the Chilean people," he said. The two sides also agreed to establish an institutional foundation to deepen cooperation in the defense and shipbuilding sectors, while expanding scientific and technological cooperation as well as people-to-people and cultural exchanges.
Lee said, "Korea and Chile have explored Antarctica together, a shared heritage of humanity. We have also conducted astronomical research together by observing the universe from the Atacama Desert in northern Chile.
" He added that he looks forward to active and sustained cooperation. On people-to-people and cultural exchanges, he said, "In Chile, there is growing interest in the Korean Wave, and not only K-pop and K-dramas but also K-food and K-beauty, which are known for their quality and competitiveness, are becoming a trend.
" He added, "We will continue to expand government support so that this can deepen cultural affinity and serve as a foundation for more active exchanges between our two countries. " President Lee Jae-myung speaks at a joint press statement with Chilean President José Antonio Kast at the presidential palace in Santiago on the 30th (local time).
Yonhap News Agency President Lee Jae-myung and President José Antonio Kast head to the summit venue after a welcome ceremony for the state visit at the presidential palace in Santiago on the 30th (local time). Yonhap News Agency They also discussed peace, stability, and prosperity on the Korean Peninsula and in the international community.
Lee said, "I asked for Chile's unwavering support for resolving the North Korean nuclear issue and establishing peace on the Korean Peninsula.
President Kast said he would work together for peace and stability on the Korean Peninsula.
" He added, "Our two countries also agreed to work closely together for the successful joint hosting of the 4th United Nations Ocean Conference in 2028 and the successful hosting of the APEC summit in Chile in 2032.
Yonhap News Agency [Financial News, Santiago, Chile = Choi Jong-geun] President Lee Jae-myung, who is on a state visit to Chile, said on the 30th (local time) that Korea and Chile had agreed to reactivate the Korea-Chile Free Trade Agreement Free Trade Committee for the first time in 10 years to review trade and investment issues, and to discuss ways to strengthen bilateral trade relations, including improvements to the mutually beneficial Korea-Chile FTA. It was the first visit by a South Korean president to Chile in 11 years.Yonhap News Agency [Financial News, Santiago, Chile = Choi Jong-geun] President Lee Jae-myung, who is on a state visit to Chile, said on the 30th (local time) that Korea and Chile had agreed to reactivate the Korea-Chile Free Trade Agreement Free Trade Committee for the first time in 10 years to review trade and investment issues, and to discuss ways to strengthen bilateral trade relations, including improvements to the mutually beneficial Korea-Chile FTA. It was the first visit by a South Korean president to Chile in 11 years.
Yonhap News Agency [Financial News, Santiago, Chile = Choi Jong-geun] President Lee Jae-myung, who is on a state visit to Chile, said on the 30th (local time) that Korea and Chile had agreed to reactivate the Korea-Chile Free Trade Agreement Free Trade Committee for the first time in 10 years to review trade and investment issues, and to discuss ways to strengthen bilateral trade relations, including improvements to the mutually beneficial Korea-Chile FTA. It was the first visit by a South Korean president to Chile in 11 years.1 billion mineral supply from Chile and building an institutional foundation to support Korean companies' expansion into the country.The security MOU includes information sharing and joint operations for the protection of overseas Koreans and for responding to transnational crime.
The revised polar research cooperation MOU, which updates the agreement first signed in 2012 and revised in 2018, expands cooperation to include eco-friendly base operations, new environmental and ecosystem issues, and Antarctic governance.
Through the maritime safety and security cooperation MOU, the two sides will establish a cooperation and information-sharing system.
Based on the investment cooperation MOU, they also plan to promote two-way investment, exchange investment information, and carry out joint projects such as investment delegations, seminars, and business meetings.
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