By Ruy A. Valdés
Seoul, July 25 (EFE).- South Korean President Lee Jae Myung sees ties with South America entering «a new phase» as he begins a tour of Brazil, Chile and Argentina aimed at advancing a trade agreement with Mercosur and strengthening cooperation in critical minerals and artificial intelligence.
“Mercosur countries are global leaders in agriculture, food production, energy, and critical minerals. Korea is a global leader in advanced manufacturing, digital technologies, shipbuilding, batteries, and innovation. By bringing these strengths together, we can create resilient value chains that benefit both regions,» Lee told EFE in a written interview.
Lee begins his South American tour on Sunday in Brazil, where he will meet President Luiz Inácio Lula da Silva on Monday before attending a business forum in São Paulo the following day.
He will be accompanied by a trade delegation that includes Hyundai Motor Group Chairman Chung Euisun.
The South Korean leader will then travel to Chile for a summit with President José Antonio Kast on July 30 before heading to Buenos Aires, where he is scheduled to meet Argentine President Javier Milei the next day.
Talks are expected to focus on cooperation in rare earths, energy, and strategic supply chains amid geopolitical tensions and instability in the Middle East.
The visit follows Lee’s meetings in the United States with executives from OpenAI, Nvidia and Anthropic, during which he outlined plans to establish a world-class artificial intelligence center in South Korea.
Speaking about efforts to revive negotiations on a free trade agreement between South Korea and Mercosur, Lee said the current global environment made trusted partnerships increasingly important “Rising protectionism, geopolitical tensions, supply chain disruptions, and energy security concerns are reshaping the global trading system. In times like these, countries need reliable partners more than ever,” he said.
Lee argued that the rapid expansion of artificial intelligence and advanced manufacturing has made South America’s reserves of critical minerals strategically important.
“South America possesses resources that are essential to the industries of the future, while Korea brings advanced technology, industrial know-how, and investment. Together, we can build resilient supply chains, develop new industries, and generate high-quality jobs that benefit both regions,” he said.
The president noted that trade between South Korea and Brazil, Argentina, and Chile has increased more than fourfold over the past three decades but said future cooperation should move beyond the traditional exchange of raw materials for manufactured goods.
“I believe our relationship is entering a new phase. The future of Korea-Latin America cooperation should not be defined simply by the exchange of natural resources for manufactured goods. It should be about creating value together through innovation, investment, technology, and human talent,” he said.
Lee identified modernizing the economic framework with the region as a key priority, including updating South Korea’s free trade agreement with Chile, which entered into force in 2004 as Seoul’s first such accord.
“More than twenty years later, we have the opportunity to modernize that agreement so it reflects today’s economy by incorporating new areas such as digital trade, environmental cooperation, labor standards, gender, and innovation,» he said.
He also highlighted the growing popularity of South Korea in Latin America beyond K-pop and television dramas, pointing to increasing interest in Korean cuisine, cosmetics, tourism, technology, education and creative industries.
“Our goal is clear: to build a relationship between Korea and South America that is not only economically successful, but also deeply rooted in exchanges between our societies and in opportunities for future generations,” Lee said. EFE
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