Korean, Chilean business leaders discuss critical minerals, digital tech and clean energy cooperation

Leading business figures from South Korea and Chile gathered to discuss ways to build a "Korea-Chile Future Cooperation Partnership" aimed at opening a new era of shared growth.

The Korea Chamber of Commerce and Industry (KCCI) said Friday it co-hosted the Korea-Chile Business Roundtable with Chile's industrial association SOFOFA in Santiago on Thursday (local time).

The KCCI and SOFOFA established the Korea-Chile Economic Cooperation Committee in 1979 and have maintained ongoing exchanges between the two countries' business communities. Twenty-two business leaders from both sides attended the roundtable, with President Lee Jae Myung present to encourage participants.

The South Korean delegation was led by OCI Holdings Chairman Lee Woo-hyun, who also serves as the Korean co-chair of the economic cooperation committee, and included Posco Holdings Chairman Jang In-hwa, LS Group Chairman Koo Ja-eun, Korea Zinc Chairman Choi Yun-beom, Hyundai Motor Group Vice Chairman Jang Jae-hoon, SK Biopharm CEO Lee Dong-hoon, LG Electronics President Ryu Jae-cheol, Hanwha Ocean President Jeong In-seop, Naver CEO Choi Su-yeon, Hosan Mulsan CEO Lee Pil-seong and CICD CEO Han Seong-gu.

The Chilean side included Deputy Foreign Minister Patricio Torres, Deputy Foreign Minister for International Economic Affairs Paula Esteves, trade agency chief Ignacio Fernandez and 11 business leaders.

In the opening plenary session, Lee said Chile was South Korea's first free trade agreement partner and South Korea was Chile's first FTA partner in Asia, calling the two nations "special partners who each gave the other a first." He said that first step had served as a solid foundation for developing bilateral economic cooperation over the past two decades, and proposed that the two countries use the meeting as a springboard to create new growth opportunities across future industries.

Discussions at the roundtable focused on upgrading bilateral economic cooperation in three future-growth areas: critical minerals, advanced technology and digital industries, and clean energy and trade expansion.

In the critical minerals session, Posco Holdings, LS and Korea Zinc discussed ways to deepen resource-sector cooperation. Posco Holdings shared plans for Korea-Chile resource development cooperation using direct lithium extraction technology to minimize environmental impact. LS said it would contribute to power industry development in the AI era, building on the stable operation of a joint venture it established with Chilean state copper company Codelco in 2014. Korea Zinc shared plans to strengthen cooperation with Chile to diversify its supply chain.

The advanced technology and digital session covered cooperation opportunities in AI and the shipbuilding and marine sectors. LG Electronics presented possibilities for expanded cooperation leveraging LG Group's integrated AI data center solution capabilities. Hanwha Ocean outlined a phased cooperation model envisioning a collaborative framework between the two countries' shipyards, with the aim of developing it into joint exports to South America. Naver shared plans to help build Chile's AI ecosystem.

The final session focused on clean energy cooperation and trade expansion. Hyundai Motor highlighted the combined Hyundai Motor and Kia top market-share position in Chile's auto market and announced plans to expand its eco-friendly vehicle lineup to strengthen its response to carbon reduction. OCI Holdings said it would contribute to industrial cooperation between the two countries by combining South Korea's strengths in solar value chain manufacturing with Chile's renewable energy resources. SK Biopharm shared a case study of an epilepsy drug it launched with local partner Eurofarma and outlined plans to improve treatment access for patients in Chile.

Yoon Cheol-min, head of the KCCI's international trade division, said the roundtable was meaningful in that it allowed companies from both countries to explore new business opportunities beyond traditional trade and resource-focused cooperation. "The KCCI will actively support companies from both countries in jointly leading global markets across more sectors," he said.