Held on sidelines of President Lee's South America tour

32 Korean firms, 50-plus Latin American buyers take part

B2B consultations focus on beauty, food and biotech

Business consultations take place at the Korea-Chile Business Partnership event hosted by KOTRA in Santiago, Chile, on Thursday (local time), timed to coincide with President Lee Jae Myung's visit to Chile. [KOTRA]
Business consultations take place at the Korea-Chile Business Partnership event hosted by KOTRA in Santiago, Chile, on Thursday (local time), timed to coincide with President Lee Jae Myung's visit to Chile. [KOTRA]

KOTRA hosted the Korea-Chile Business Partnership event in Santiago, Chile, on Thursday (local time), timed to coincide with President Lee Jae Myung's South America tour, the trade promotion agency announced Friday.

The event drew 32 South Korean companies focused on hallyu consumer goods and the biotech and healthcare sectors, along with more than 50 buyers and procurement agencies from across Latin America — including Chile, Brazil, Argentina, Peru and Ecuador — for one-on-one business consultations.

South Korea and Chile signed a free trade agreement in 2003 — the first between an Asian and a South American country — which took effect in 2004. Bilateral trade has since expanded across automobiles and auto parts, pharmaceuticals and medical devices, agricultural and marine products, cosmetics, copper and petroleum products. Total trade volume grew more than fourfold, from $1.57 billion in 2003 to $6.42 billion in 2025.

Chile is the world's largest copper producer and holds the largest lithium reserves, making it a key partner in South Korea's advanced-industry supply chain. Growing popularity of K-pop, drama series, beauty products and food has also fueled rising demand for Korean products there.

The event featured sector-by-sector one-on-one export consultations covering beauty, food, lifestyle consumer goods, industrial materials and advanced technology. An experiential showcase introduced more than 100 food, beauty and biohealth products, and a dedicated platform zone displayed K-pop merchandise available through reverse-import channels.

A total of 13 export contracts worth approximately $5 million were signed on site. Korean cosmetics company A concluded a skincare product supply agreement with a Chilean buyer, with plans to import $2 million worth of products over the next five years. Food company C signed a $260,000 processed-food supply contract with Chilean retail chain Jumbo, securing shelf space for five of its products in the local distribution network.

KOTRA President Kang Gyeong-seong said Chile is "actively pursuing improvements to its manufacturing infrastructure, defense modernization and energy transition to strengthen industrial competitiveness." He added that the agency would do its utmost to provide follow-up support so that practical cooperation between companies of the two countries can deepen further, 22 years after the Korea-Chile FTA took effect and amid growing exports of Korean products and rising interest in Korean culture.


eyre@heraldcorp.com