Lee: Chile's Critical Minerals and Korea's Advanced Manufacturing Make Them Ideal Partners

South Korean President Lee Jae-myung declared Chile and South Korea to be optimal partners, citing Chile's abundance of critical minerals and South Korea's strength in advanced manufacturing. Speaking at a 'Korea-Chile Business Roundtable' in Santiago, Lee underscored the critical need for cooperation among nations, including Chile and Asian countries, during a period of significant global economic transformation.

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Critical minerals rich Chile and advanced manufacturing powerhouse Korea are the optimal partners.

Lee pointed to the 2004 Korea-Chile Free Trade Agreement, noting its initial focus on agricultural trade. He observed that over two decades, the scope of cooperation has broadened considerably, positioning the two nations as strategic partners preparing for the future together. He expressed hope for the expansion of collaborative models, such as the joint venture between South Korea's LS and Chile's state-owned Codelco.

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Cooperation between countries, including Asia and Chile, is more important than ever during a period of great transition in the world economy.

"If our countries join forces, we can create remarkable synergistic cooperation not only in the supply and value addition of critical minerals but also in advanced manufacturing and defense," Lee stated. The business roundtable aimed to foster cooperation between the business communities of both nations. Attendees from South Korea included executives from OCI Holdings, Posco, LS, KORAMCO, LG Electronics, Hanwha Ocean, Naver, Hyundai Motor, and SK Bioscience.

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I hope that the future cooperation between Korea and Chile will expand into new areas.