President Lee Arrives in Santiago, Chile, for Official Visit

President Lee Jae-myung arrived in Santiago, Chile, on July 29 after completing a state visit to Brazil. He aims to modernize the free trade agreement (FTA) with Chile, Korea's first FTA partner, which marks its 22nd anniversary this year, and to expand cooperation in critical mineral supply chains and infrastructure.

The presidential aircraft carrying President Lee and First Lady Kim Hye-kyung landed at Arturo Merino Benitez International Airport in Santiago at 2:20 p.m. local time.

They were welcomed by Chilean Foreign Minister Alberto van Klaveren, Chief of Protocol Oscar Fuentes, Chilean Ambassador to Korea Matias Francke, and the commander of the Santiago Air Force base. From the Korean side, Ambassador to Chile Kim Hak-jae and his wife were present to greet them.

President Lee will kick off his official visit in Chile with a dinner meeting with local Korean residents in Santiago, where he plans to encourage the Korean community's integration and listen to their concerns.

On July 30, he will lay a wreath at the statue of Chilean independence hero Bernardo O'Higgins before attending an official welcome ceremony at La Moneda Palace. He will then hold a summit with Chilean President José Antonio Kast, which will include a signing ceremony for a memorandum of understanding (MOU), a joint press conference, and an official luncheon.

A key agenda item for the summit is the modernization of the Korea-Chile FTA, which took effect in April 2004 as Korea's first FTA. The two countries began improvement negotiations in 2018 and have held nine official rounds of talks, with plans to conclude by April 2024.

The government aims to expand the existing trade agreement, which focuses on goods, to include digital economy, supply chains, energy and minerals, intellectual property rights, and environmental and labor issues to adapt to the changing trade environment.

Cooperation in critical mineral supply chains, linking Chile's copper and lithium resources with Korea's battery and advanced manufacturing technologies, is also expected to be a major topic. The government is exploring ways to support domestic companies' entry into Chile's promising infrastructure market.

After the summit, President Lee will attend a Korea-Chile business roundtable to discuss ways to enhance trade and investment between the two countries. They will also discuss preparations for the successful hosting of the UN Ocean Conference in 2028 and cooperation on marine environment and climate change responses.