Key facts
- South Korea and Chile agreed to reactivate a joint committee to modernize their free trade agreement.
- The two nations will enhance cooperation in critical mineral supply chains, defense, infrastructure, and public security.
- Five memorandums of understanding were signed, including one focused on critical mineral resources.
- President Lee requested Chile's support for addressing North Korea's nuclear issues.
- The South Korea-Chile FTA, effective since 2004, has seen bilateral trade quadruple.
South Korean President Lee Jae Myung arrived in Santiago for a summit with Chilean President Jose Antonio Kast, agreeing to reactivate a joint committee to modernize their free trade agreement and expand cooperation in critical minerals, defense, and infrastructure. The two nations signed five memorandums of understanding, including one on critical mineral resources. President Lee also requested Chile's support in addressing North Korea's nuclear issues. Chile is the second stop on Lee's three-nation South America tour, following Brazil and preceding Argentina.