Gyeongju: President Lee Jae Myung engaged in discussions with Chilean President Gabriel Boric to explore the expansion of economic partnerships and bilateral relations. The meeting took place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju.
According to Yonhap News Agency, President Lee emphasized the importance of fostering deeper relations between the two countries. He noted Chile's longstanding cooperative relationship with South Korea, highlighting that Chile was the first Latin American nation to recognize South Korea and sign a free trade agreement (FTA) with it. Lee expressed his optimism that President Boric's visit would further enhance these ties.
President Boric shared a similar perspective, stating that despite the geographical distance of 18,000 kilometers and a 35-hour flight, Chile feels a close connection to South Korea, particularly admiring its role as a model in the restoration of democracy. Boric also conveyed Chile's strong desire to update its FTA with South Korea, acknowledging that progress in negotiations had been slow.
Both leaders agreed that South Korea's advanced manufacturing technology, when combined with Chile's energy and mineral resources, could create significant synergy. This view was reiterated by presidential spokesperson Kim Nam-jun, who indicated that the two nations have been in discussions since 2018 to modernize the FTA, aiming to expand trade, investment, and other areas of economic collaboration.