Lee calls for deeper bilateral cooperation in talks with Chilean president

President Lee Jae Myung shakes hands with Chilean President Gabriel Boric as they meet for talks on the margins of the APEC Economic Leaders’ Meeting in Gyeongju, North Gyeongsang Province, Friday. Yonhap

President Lee Jae Myung held talks with Chilean President Gabriel Boric on Friday to discuss ways to expand economic partnerships and bilateral ties.

During the talks held on the margins of the two-day Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju, Lee expressed hope that the two countries' long-standing ties would develop further.

"I hope your visit to Korea will serve as an opportunity for our relations to develop further and deeper," Lee said. "Chile has long maintained cooperative relations with Korea after establishing democracy."

"(Chile) has a special relationship with Korea as the first (Latin American) country to recognize Korea and to sign a free trade agreement (FTA)," he added.

Boric echoed the sentiment, saying Chile feels very close to Korea despite the two nations being 18,000 kilometers apart and a 35-hour flight away.

"It is because Korea has been a model in the restoration of democracy," he said.

Boric also expressed Chile's strong willingness to update its FTA with Seoul, noting their talks have stalled.

The two sides agreed that combining Korea's advanced manufacturing technology with Chile's energy and mineral resources would create strong "synergy," presidential spokesperson Kim Nam-jun said in a briefing.

Korea and Chile have been carrying out talks since 2018 to update the FTA to further broaden ties in trade, investment and other areas of economic cooperation.