South Korean President Lee Jae Myung arrived in Santiago on Wednesday, July 29, 2026 [1], for a summit with Chilean President Jose Antonio Kast [2].

The meeting marks a strategic effort to secure critical supply chains for core minerals and expand economic ties through a free-trade agreement. As global competition for battery materials intensifies, South Korea seeks stable partnerships with mineral-rich nations in South America.

President Lee landed at the Arturo Merino Benítez International Airport [3] as part of a broader diplomatic mission. This visit represents the second stop of a three-nation tour [4] through the region.

During the summit, the two leaders focused on widening the scope of bilateral collaboration. Discussions centered on the trade of core minerals, and the refinement of a free-trade agreement to facilitate easier commerce between the two nations [2], [5].

President Lee said, "핵심광물 등 양국 간 협력 지평 더 넓어져," referring to the broadening horizons of cooperation regarding core minerals [6].

The diplomatic engagement included a welcoming ceremony with Chilean Foreign Minister Perez Mackenna [7]. Both administrations said that the goal of the summit is to strengthen bilateral ties and ensure a resilient partnership in the face of shifting global trade dynamics [2], [5].

The visit emphasizes South Korea's intent to diversify its resource procurement. By formalizing agreements with Chile, Lee aims to reduce dependence on single-source suppliers for the minerals essential to the high-tech and automotive industries [5].

“President Lee landed in Santiago on Wednesday, July 29, 2026.”

This summit signals South Korea's strategic pivot toward South America to secure the raw materials necessary for its semiconductor and electric vehicle industries. By focusing on core minerals and a free-trade agreement with Chile, President Lee is attempting to insulate the South Korean economy from geopolitical volatility in other mineral-exporting regions.