Korea and Chile Business Leaders Unite in Santiago to Forge Partnerships in Critical Minerals, AI, and Green Energy

Korean Chamber of Commerce and Industry and Chilean Federation of Industry Hold Business Roundtable
President Lee Jaemyung Attends to Offer Support

Key business leaders from Korea and Chile gathered in one place and agreed to expand economic cooperation beyond the traditional focus on resources and trade, to encompass future industries such as critical minerals, advanced technology and digitalization, and eco-friendly energy.

The Korean Chamber of Commerce and Industry, together with the Chilean Federation of Industry (SOFOFA), jointly held the "Korea-Chile Business Roundtable" in Santiago, Chile, on the 30th (local time). President Lee Jaemyung attended the event alongside 22 major business leaders from both countries, encouraging the participating executives.

On the 30th (local time), a Korea-Chile business roundtable is being held at a hotel in Santiago, Chile, presided over by President Lee Jae-myung. Photo by Yonhap News Agency

Lee Woo-hyun, Chairman of OCI Holdings and Chair of the Korea-Chile Economic Cooperation Committee, who represented the Korean business delegation, stated in the keynote session, "Chile was the first country to sign a Free Trade Agreement (FTA) with Korea, and Korea was the first Asian country to sign an FTA with Chile," emphasizing the unique nature of this partnership as both nations served as 'firsts' to one another. Rosario Navarro, Chair of the Chilean Federation of Industry, likewise proposed building a sustainable partnership that combines Korea's advanced technology with Chile's abundant resources and renewable energy potential.

During the meeting, specific action plans for the three major future cooperation fields were discussed. In the critical minerals sector, POSCO Holdings shared its eco-friendly resource development plans based on Direct Lithium Extraction (DLE) technology, while LS announced its commitment to contribute to power infrastructure development for the AI era through its joint venture with Chilean state-owned copper company Codelco. Korea Zinc also presented plans to deepen collaboration with Chile to diversify its supply chains.

Cooperation in the fields of advanced technology and digitalization was also addressed. LG Electronics outlined possible collaboration leveraging its AI data center integration solutions; Hanwha Ocean shared a model for Chile’s defense industry self-reliance and joint exports to South America through cooperation between shipyards in both countries. Naver introduced plans to help build Chile’s sovereign AI infrastructure and to develop a smart city ecosystem.

In the session on eco-friendly energy and trade expansion, Hyundai Motor Company proposed expanding its eco-friendly vehicle lineup and collaborating on building a green hydrogen ecosystem. OCI Holdings presented cooperation measures utilizing its strengths in manufacturing for the solar value chain. In addition, large and small and medium-sized companies such as SK Biopharm, Hoshanmulsan, and CICD actively discussed strategies to increase market entry and trade in the fields of pharmaceuticals and biotech, K-Food, and K-Beauty in Chile.

Yoon Chulmin, Executive Director of International Trade at the Korean Chamber of Commerce and Industry, stated, "This event was meaningful as it allowed companies from both nations to explore new business opportunities beyond existing trade and resource-based cooperation," adding, "Going forward, we will continue to actively support companies from both countries so they can jointly take the lead in the global market."

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