KOTRA Hosts 'Korea-Chile Business Partnership' in Santiago with $4.95 Million Export Achievements

President Lee Jaemyung's South America Visit Spurs New Opportunities
32 Korean Companies Hold Consultations with Local Buyers

The Korea Trade-Investment Promotion Agency (KOTRA) announced that it held the ‘Korea-Chile Business Partnership’ event in Santiago, Chile on the 30th (local time), coinciding with President Lee Jaemyung’s visit to South America.

At the 'Korea-Chile Business Partnership' event held by the Korea Trade-Investment Promotion Agency (KOTRA) on the 30th (local time) in Santiago, Chile, export consultations are taking place. KOTRA

This event was organized in response to heightened interest in economic cooperation with Korea among local businesses in Latin America, prompted by the President’s state visit. KOTRA focused on Korean-wave (Hallyu) consumer products and bio-healthcare sectors, both areas with strong demand for collaboration between the two countries, and facilitated business partnership opportunities between 32 Korean companies and local buyers.

The business-to-business (B2B) export consultation held that day featured not only major buyers such as Jumbo, Chile’s leading supermarket chain, and Falabella, a comprehensive retail group, but also more than 50 buyers and procurers from other Latin American countries including Brazil, Argentina, Ecuador, and Peru.

At the entrance to the venue, an interactive showcase displayed over 100 types of Hallyu consumer products from Korean companies operating in the food, beauty, and biohealth sectors. A special booth dedicated to a ‘reverse direct purchase platform’, designed to connect Chilean consumers directly with Korean supply chains, featured K-pop merchandise and more.

A total of 13 export contracts worth USD 4.95 million were signed onsite. Company A, a specialist distributor of Korean cosmetics, entered into an agreement with Chilean buyer Company B to supply skincare products. Under the deal, Company A granted Company B exclusive distribution and sales rights for its skincare products in Chile and across Latin America. Company B is reportedly planning to generate imports worth USD 2 million over the next five years, including launching these products at Salcobrand, a leading drugstore chain. Company C, which has exported food products to multiple countries, signed a processed food supply contract worth a total of USD 260,000 with Jumbo, Chile’s largest distribution network, enabling five processed food products from Company C to be offered at Jumbo stores.

Kang Kyungsung, President of KOTRA, stated, “Chile is actively working to strengthen its industrial competitiveness through improvements to manufacturing infrastructure, modernization of its defense industry, and energy transition. Now, 22 years after the signing of the Korea-Chile FTA, exports of Korean products have increased significantly and the popularity of K-culture continues to grow. We will do our utmost to provide follow-up support so that this visit becomes a catalyst for even deeper practical cooperation between businesses in both countries.”

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