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СпутникиРНSpaceXРоскосмосNASASingapore unveiled additional cost-of-living measures, including larger cash payouts, earlier CDC vouchers and expanded business support.
On Wednesday, South Korean President Lee Jae-myung arrived in Santiago to discuss boosting cooperation in critical minerals, clean energy, artificial intelligence and other areas with Chilean President Jose Antonio Kast, in addition to strengthening trade cooperation between the two countries.
The leaders will hold an official welcome ceremony, bilateral talks, signing of memorandums of understanding (MOUs) and a joint news conference during their meeting on July 30 in the La Moneda Palace.
The trip is the second part of Lee's 11-day tour of the U.S., Brazil, Chile and Argentina. As Seoul makes an effort to diversify supply chains and broaden economic cooperation with resource-rich countries, it is also promoting cooperation in emerging technologies.
Korea-Chile FTA Set for Modernization TalksIn an interview with the Korean community in Santiago, Lee said that Chile is the first free trade agreement (FTA) partner of South Korea and that the two countries have been long-time partners. Chile was also the first South American country to accept the South Korean government.
The Korea-Chile Free Trade Agreement, which entered into force on April 1, 2004, was the first FTA between an Asian and a Latin American economy. However, Lee said the agreement should evolve to reflect changes in the global economy.
In a written interview with Spain's EFE news agency published before the visit, Lee said the bilateral trade framework "must evolve in line with the changing environment."
"Today's economy is being reorganized around digital trade, artificial intelligence, clean technology, resilient supply chains, and the transition to carbon neutrality," Lee said.
He urged the two countries to restart the JCFTA and to start discussions on modernizing the agreement and enhancing cooperation in the supply chain.
Critical Minerals Take Center StageOne of the major outcomes of the summit is expected to be a planned MOU on mineral resources. Both sides will use the agreement as a platform to support efforts to help stabilize global supply chains for critical minerals, Lee said.
The project is especially important for South Korea, which is heavily dependent on raw materials imports from overseas, for its battery and semiconductor industries. Chile is one of the world's top producers of lithium, a vital element in electric car batteries and other storage solutions.
The South Korean National Security Adviser, Wi Sung-lac, said that the South American tour is aimed at increasing trade and investment and creating opportunities for South Korean companies in Latin America.
Chile Sees South Korea as Key Asian PartnerChile has also emphasized the strategic importance of closer economic ties.
Foreign Minister Francisco Pérez Mackenna, who welcomed Lee at Arturo Merino Benítez International Airport, described South Korea as an important gateway to Asian markets.
"South Korea is a gateway to Asia, which is the most dynamic market in the world today, and we need to keep expanding our exports, because behind exports are quality jobs," he said.
Part of Seoul's Broader Supply Chain StrategyThe trip to Chile is part of South Korea's general drive to boost its economic security partnerships and diversify supply chains for strategic industries.
Lee has made the expansion of cooperation in the field of artificial intelligence and semiconductors and advanced technologies his top priority since his appointment.
In March 2026, during a visit to Singapore by Prime Minister Lawrence Wong, the two nations inked five MOUs in areas such as artificial intelligence, quantum computing, small modular reactors and space technology.
After concluding his visit to Chile, Lee is scheduled to travel to Buenos Aires for talks with Argentine President Javier Milei on July 31. Argentina, like Chile, is part of South America's lithium triangle, making it another strategically important partner for South Korea's efforts to secure critical mineral supplies and strengthen economic resilience.
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