President Lee Jae Myung and first lady Kim Hye-kyung disembark from Air Force One upon arriving at Arturo Merino Benítez International Airport in Santiago, Chile, on Wednesday (local time). [Yonhap]
President Lee Jae Myung and first lady Kim Hye-kyung disembark from Air Force One upon arriving at Arturo Merino Benítez International Airport in Santiago, Chile, on Wednesday (local time). [Yonhap]

President Lee Jae Myung, currently on a South American tour, is pushing to upgrade the Korea-Chile free trade agreement during his official visit to Chile.

The plan calls for incorporating new trade realities — including AI, digital commerce and clean technology — into the agreement while strengthening supply chain cooperation on critical minerals such as lithium and copper.

Lee arrived in Santiago, the Chilean capital and the third stop of his tour, on Wednesday (local time).

Ahead of a summit with Chilean President José Antonio Kast, Lee told the Chilean news agency EFE that the Korea-Chile FTA "must be adjusted to reflect the dramatic changes that have occurred since it took effect in 2004."

He said the two countries should reconvene the FTA Free Trade Commission to reflect the rapidly shifting trade environment since the agreement entered into force, and that they should expand cooperation to build a resilient supply chain alongside progress in modernization talks.

He said the revision carries significance not merely as a tidying-up of trade rules, but as a means of creating new business opportunities and fostering innovation and cooperation in new industries.

He added that new areas such as labor standards and gender equality would also be included in the modernization discussions.

Lee also said that "Korea-Chile relations have never depended on any single country," adding that "since establishing diplomatic ties in 1962, we have built a friendship grounded in mutual trust, shared values and an institutional foundation forged over more than 60 years." He signaled his intent to deepen cooperation with the Kast government, which took office in March.

President Lee Jae Myung delivers remarks at a dinner meeting with Korean residents at a hotel in Santiago, Chile, on Wednesday (local time). [Yonhap]
President Lee Jae Myung delivers remarks at a dinner meeting with Korean residents at a hotel in Santiago, Chile, on Wednesday (local time). [Yonhap]

Supply chain cooperation is expected to feature prominently in the summit, given that Chile holds the world's largest reserves of copper and lithium — two minerals critical to advanced industries.

Lee said the two countries plan to sign an MOU on mineral resource partnership, adding that "the goal is to cooperate to stabilize the global supply chain for critical minerals."

He expressed hope that mineral-rich Chile and South Korea — with its stable demand and advanced manufacturing base — could together build a competitive value chain spanning mineral development, processing and high-end manufacturing.

He also said the two sides would expand cooperation in infrastructure, the defense industry, public safety and maritime security, and pledged close collaboration toward the successful hosting of the Fourth UN Ocean Conference, which Korea and Chile will co-host in 2028.

As his first official engagement in Chile, Lee held a dinner meeting with Korean residents living in the country.

At the gathering, he said, "Chile is one of the countries farthest from Korea on the map, but a deep sense of friendship has always kept us close."

He noted that Chile was "a grateful country that recognized our potential and extended its hand at a time when the world knew little about Korea," adding that "when Korea began opening its economic doors to the world, Chile became our cherished partner."

He added that "the difficulties you face are never just personal matters — they are challenges that Korea must solve together," and pledged that "wherever you are in the world, I will do my utmost to be a reliable pillar of support, so that you can feel the warmth and change of your home country even while living abroad."


sang@heraldcorp.com