Lee says S. Korea-Latin America ties entering 'new stage,' vows deeper critical minerals cooperation

President Lee Jae Myung, on a tour of the United States and three South American nations — Brazil, Chile and Argentina — said Saturday (local time) that South Korea's ties with Latin America are entering a "new stage," and outlined plans to resume trade agreement negotiations with Mercosur and deepen cooperation on critical minerals in the AI era.

In a written interview with EFE, the Spanish-language news agency, Lee said Mercosur member states are global leaders in agriculture, food production, energy and critical minerals, while South Korea leads in advanced manufacturing, digital technology, shipbuilding, batteries and innovation. "If we combine these strengths, we can build resilient value chains that benefit both regions," he said.

The written interview was conducted so that people in South American countries could learn about the purpose of Lee's visit in Spanish.

On the importance of a trade agreement with Mercosur, Lee said that as protectionism spreads, geopolitical tensions rise and concerns grow over supply chain disruptions and energy security, countries need trusted partners and trade grounded in clear rules and mutual trust.

Lee went on to say that the strategic importance of Latin America's critical minerals sector is growing as AI and advanced manufacturing rise.

"Latin America holds the resources essential to future industries, and South Korea has advanced technology, industrial know-how and investment capacity," Lee said. "Together, we can build resilient supply chains, nurture new industries and create quality jobs that benefit both regions."

Lee particularly noted that trade between South Korea and the three South American nations has more than quadrupled over the past 30 years, and said the relationship must now go beyond simple commerce.

"I believe our relationship is now entering a new stage," Lee said. "The future of Korea-Latin America cooperation should not be defined merely as an exchange of natural resources for manufactured products — it must become a relationship in which we create value together through innovation, investment, technology and talent."

He also identified modernizing the economic cooperation framework with Latin America as a key priority, including updating the Korea-Chile free trade agreement, which entered into force in 2004.

"More than 20 years on, we have an opportunity to modernize that agreement to reflect new areas such as digital trade, environmental cooperation, labor standards, gender equality and innovation," Lee said.

Lee went on to say that the goal is clear. "We want to build a relationship between South Korea and Latin America that goes beyond economic success — one deeply rooted in people-to-people exchanges and cooperation for future generations," he said.