South Korean president to visit Brazil, Chile, Argentina this summer

South Korean President Lee Jae-myung is set to undertake a significant international tour this summer, with a primary focus on strengthening economic ties with key South American nations. The itinerary includes state visits to Brazil, Chile, and Argentina, aimed at expanding trade and investment opportunities and opening new markets.

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The visit seeks to expand trade and investments and open new markets with Brazil, Chile and Argentina, key economic powers in South America.

According to Wi Sung-lac, the director of South Korea's National Security Office, the visits are designed to foster partnerships with these major economic powers in South America. The president's tour will commence in San Francisco, USA, from July 24-25, where he will engage with artificial intelligence industry leaders. This will be followed by a state visit to Brazil from July 26-29, at the invitation of President Luiz Inácio Lula da Silva.

Following Brazil, President Lee will travel to Chile from July 29-30 for meetings with President José Antonio Kast. His South American journey will conclude in Argentina from July 30 to August 1, where he will meet with President Javier Milei. The tour underscores South Korea's strategic interest in the region, highlighted by Wi's emphasis on the combined market size of these three nations, approximately 280 million people with a GDP of $3.7 trillion.

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The three South American countries represent a combined market of 280 million people, with a combined gross domestic product of $3.7 trillion.

Discussions during the visits will include advancing negotiations for a free trade agreement with Mercosur in Brazil and Argentina, and modernizing the existing free trade treaty with Chile. Wi also pointed to the rich natural resources of these countries, stating that establishing "economic security partnerships" is a key objective. The tour follows earlier diplomatic efforts, including a call between South Korean Foreign Minister Cho Hyun and his Mexican and Brazilian counterparts in April to enhance energy cooperation and diversify supply sources amid Middle Eastern supply disruptions that have impacted South Korea's oil imports.

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Establishing economic security partnerships.