South Korean President Lee Jae‑myung visits Chile to modernize FTA and discuss strategic minerals

South Korean President Lee Jae‑myung arrived in Santiago on 29 March for a two‑day state visit, meeting Chilean President José Antonio Kast. The agenda includes a joint business roundtable and a memorandum of understanding on cooperation in the supply chain for strategic minerals, as Chile holds the world's largest reserves of copper and lithium.

Both leaders will discuss modernising the Korea‑Chile Free Trade Agreement, which was first signed in 2004, to reflect changes in digital trade, AI, clean‑energy technology, labour standards and gender equality. The visit follows President Lee’s trip to Brazil and precedes a planned stop in Argentina, underscoring South Korea’s push to deepen economic ties and secure critical mineral supplies from Chile.