President Lee aims for new era in South Korea-South America ties, focusing on AI minerals and trade

South Korean President Lee Jae-myung, currently on a tour of the United States, has articulated his vision for a "new phase" in relations between South Korea and South American nations. In a written interview with Spain's EFE news agency, published on July 25, President Lee expressed his intent to resume trade agreement negotiations with Mercosur, the South American trade bloc, and bolster cooperation on critical minerals vital for the burgeoning artificial intelligence (AI) era.

“

The cooperation between the two sides should not be a relationship of exchanging natural resources for manufactured goods, but a relationship of creating value together through innovation, investment, technology, and talent.

Lee highlighted that the future of bilateral cooperation should transcend the mere exchange of natural resources for manufactured goods. Instead, he envisions a partnership built on co-creating value through innovation, investment, technology, and human capital. This strategic outlook comes ahead of Lee's planned visits to Brazil, Chile, and Argentina, all Spanish-speaking nations in South America. The initiative to restart Mercosur trade talks echoes a commitment made earlier in February during a summit in Seoul between Lee and Brazilian President Luiz Inácio Lula da Silva.

“

The more the situation involves the spread of protectionism, geopolitical tensions, supply chain disruptions, and concerns about energy security, the more each country needs reliable partners and trade based on clear norms and mutual trust.

Amidst rising protectionism, geopolitical instability, and supply chain vulnerabilities, President Lee stressed the critical need for dependable partners and trade frameworks grounded in clear rules and mutual trust. "The more the situation involves the spread of protectionism, geopolitical tensions, supply chain disruptions, and concerns about energy security, the more each country needs reliable partners and trade based on clear norms and mutual trust," he stated.

“

South America possesses the resources essential for future industries, while South Korea has advanced technology, industrial know-how, and investment capabilities.

Furthermore, Lee underscored the increasing strategic importance of South America's critical mineral resources, driven by the rise of AI and advanced manufacturing. He noted that South American nations possess essential resources for future industries, while South Korea offers advanced technology, industrial expertise, and investment capabilities. "Together, we can build resilient supply chains, foster new industries, and create quality jobs that benefit both regions," Lee remarked. He also pointed to a more than fourfold increase in trade between South Korea and Brazil, Argentina, and Chile over the past three decades, signaling a desire to move beyond traditional trade metrics.

“

Our goal is clear. We aim to build a relationship between South Korea and South America that is rooted not only in economic success but also in deep social exchange and cooperation for future generations.