The President of Chile, José Antonio Kast, welcomed the President of the Republic of Korea, Lee Jae Myung, to La Moneda Palace on Thursday during an official visit to Chile. President Lee was accompanied by First Lady Kim Hea Kyung and a delegation of senior Korean officials.
During a ceremony held in the Patio de Las Camelias, the two countries signed five memorandums of understanding covering cooperation in mining, public security, maritime security, Antarctic research, and investment and trade promotion.
The agreements were signed between Chile’s National Mining Company (ENAMI) and the Korea Mine Rehabilitation and Mineral Resources Corporation; the Investigations Police of Chile (PDI) and the Korean National Police Agency; Chile’s Maritime Authority (DIRECTEMAR) and the Korea Coast Guard; the Chilean Antarctic Institute (INACH) and the Korea Polar Research Institute (KOPRI); and between InvestChile and the Korea Trade-Investment Promotion Agency (KOTRA).
On investment, the two agencies signed a joint declaration of intent establishing a collaborative partnership between InvestChile and the Korea Trade-Investment Promotion Agency (KOTRA). The agreement provides for the exchange of information on investment policies and opportunities, the organization of investment promotion and business networking activities, and the advancement of initiatives to identify and develop projects of mutual interest in priority sectors for both countries.
On behalf of Chile, the agreement was signed by InvestChile’s Acting Director, Juan Pablo Candia.
The two presidents discussed ways to strengthen the strategic partnership between Chile and South Korea, which is founded on shared democratic values, respect for international law, support for open trade, innovation, and international cooperation.
Both governments highlighted opportunities to deepen collaboration in areas including artificial intelligence, quantum computing, biotechnology, astronomy,
energy, and researcher mobility. They also discussed cooperation in public and maritime security to combat drug trafficking, illegal fishing, and transnational organized crime.
Chile and South Korea have maintained diplomatic relations since 1962 and have been strategic partners since 2022. The bilateral free trade agreement, which entered into force in 2004, was South Korea’s first free trade agreement and the first such agreement between an Asian and a Latin American country.
In 2025, bilateral trade totaled US$7.0 billion. Chilean exports reached US$5.2 billion, while imports from South Korea totaled US$1.8 billion.
