President Lee: "Korea-Chile FTA Committee Resumes After 10 Years... Cooperation on Mineral Supply Chains"

President Lee Holds Summit with Chile on July 30

Agrees to Discuss Enhancing Bilateral Trade Relations

To Pursue Cooperation in Infrastructure, Public Safety, and Defense

"Chile, the Top Lithium Producer, Is Korea’s Ideal Partner"

President Lee Jaemyung, who is on an official visit to Chile, announced on July 30 (local time), "We have agreed to resume the Korea-Chile Free Trade Agreement (FTA) Joint Committee for the first time in ten years," and added, "The two countries will review current trade and investment issues and discuss ways to enhance bilateral trade relations, including mutual improvements to the Korea-Chile FTA."

President Lee made these remarks during a summit with Chilean President Jose Antonio Kast at the presidential palace in Santiago, stating, "The two countries have agreed to further expand cooperation in trade and investment to achieve shared growth."

Yonhap News Agency

President Lee explained, "In 2004, Korea chose Chile as its first partner for concluding an FTA," and added, "Since the FTA was signed, bilateral trade volume has increased fourfold over 20 years, proving that both countries made a strategic and correct decision." He also noted that discussions were held on cooperating within other economic partnerships, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Pacific Alliance (PA), and the Digital Economy Partnership Agreement (DEPA).

Additionally, President Lee stated, "The two countries have decided to actively pursue mutually beneficial and future-oriented cooperation in strategic areas such as core mineral supply chains, infrastructure, public safety, and the defense industry." He emphasized, "With Chile as the world's leading producer of copper and lithium and a major resource-rich country, and Korea as a leader in advanced industries such as semiconductors and batteries, our nations are naturally and ideally suited as partners for building essential mineral supply chains."

He continued, "Over the past 20 years, Korean companies have actively contributed to infrastructure construction in Chile, and they are now diligently building the 'Chacao Bridge,' Chile’s largest national project and South America's first four-lane suspension bridge. The two governments have agreed to give this landmark project the attention and proactive cooperation it warrants so that it becomes the centerpiece of bilateral collaboration and benefits the daily lives and economic activities of the Chilean people."

Furthermore, President Lee mentioned that the two countries had in-depth discussions on responding to transnational crime, cooperating against illegal maritime activities, and establishing foundations for collaboration in defense and shipbuilding.

President Lee said, "Our two countries have jointly explored Antarctica, the shared heritage of humanity. We have also engaged in astronomical research while observing the universe together in the Atacama Desert in northern Chile." He went on to express his gratitude, stating, "I would like to take this opportunity to thank the Chilean side once again for its active support of Korea’s Antarctic base operations."

He added, "Recently in Chile, fueled by growing interest in Korean culture, not only K-Pop and K-Dramas but also high-quality, competitive K-Food and K-Beauty products have become trends. I promise to continue expanding support so that the interest of the Chilean people in our culture can become the foundation for further invigorating bilateral exchange."

Finally, President Lee concluded his remarks in Spanish by saying, "I hope that our two countries will work together for the joint prosperity and everlasting friendship of Korea and Chile. Muchas Gracias (Thank you very much)."

This content was produced with the assistance of AI translation services.