Anadolu staff
30 July 2026•Update: 30 July 2026
South Korea and Chile on Thursday have agreed to reactivate their joint free trade agreement committee for the first time in a decade to strengthen bilateral trade and modernize their landmark trade pact, Yonhap News reported.
The announcement was made by South Korean President Lee Jae Myung after summit talks with Chilean President Jose Antonio Kast.
Speaking at a joint press conference in Santiago, Lee said the two countries had agreed to deepen cooperation in trade and investment and update the South Korea-Chile free trade pact, which entered into force in 2004.
The leaders also agreed to expand cooperation in critical mineral supply chains, defense, infrastructure, public security, and shipbuilding.
"Chile, the world's largest copper producer with the world's largest lithium reserves, is an ideal partner for South Korea, a leader in semiconductors, batteries and other advanced industries, in establishing critical mineral supply chains," Lee said.
South Korea also pledged support for Hyundai Engineering & Construction's Chacao Bridge project in Chile and agreed to explore greater investment opportunities in the energy and critical minerals sectors.
The two sides discussed closer engagement through regional economic blocs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Pacific Alliance.
Beyond economic cooperation, the leaders agreed to strengthen collaboration against transnational crime, enhance maritime security, expand cooperation between their police and coast guard agencies, and support growing cultural exchanges, including rising interest in K-pop and South Korean entertainment in Chile.
Lee also sought Chile's continued support for efforts to address North Korea's nuclear program and promote peace on the Korean Peninsula.
According to the South Korean president, Kast reaffirmed Chile's commitment to working with Seoul in support of peace and regional security.
