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Minister Grau and InvestChile’s visit Seoul on the 20th Anniversary of the Chile-Korea FTA

12 October, 2023
  • Economy Minister Nicolás Grau and InvestChile Director Karla Flores met with local companies and authorities on their investment promotion tour in Asia.

Political and business meetings marked the first day of the activities that InvestChile organized in Korea for Economy, Development and Tourism Minister Nicolás Grau. Accompanied by the Director of Chile’s Foreign Investment Promotion Agency, InvestChile, Minister Grau kept a busy schedule on the investment promotion tour of Asia, which began in Japan.

In Seoul, the minister met with South Korean Minister for Trade Dukgeun Ahn  to discuss areas of potential collaboration between the two countries and with Trade, Industry and Energy Minister Bang Moon Kyu to exchange ideas on industrial development strategies.

Minister Bang Moon Kyu commented, «South Korea and Chile have bridged geographical distance to become close partners, thanks to their shared values of democracy, cooperation and innovation. The relationship is increasingly robust.»

The delegation – which also included InvestChile’s Investment Commissioner for Asia Vicente Pinto and Chile’s Ambassador to South Korea Mathias Francke – participated in the “20th Anniversary of the Signing of the Korea-Chile Free Trade Agreement and Economic Cooperation Committee Meeting” organized by the Korea Chamber of Commerce and Industry (KCCI) and SOFOFA.

The seminar, attended by about 100 company representatives, Chile’s Agriculture Minister Esteban Valenzuela, Minister Grau and InvestChile Director Karla Flores, addressed the economic relationship between the two countries. It highlighted investment opportunities in Chile, especially concerning the global challenges of decarbonization.

In the afternoon, Minister Grau and Karla Flores met with companies like LG Energy Solution, Posco Holdings, SK On and the Chile-Korea Economic Cooperation Committee.

An ideal partner for innovation

On the visit, Minister Grau remarked, «We had the privilege of presenting the government’s agenda and investment opportunities that favor productive development and sustainable growth. We promoted these opportunities to more than 45 companies, institutions and representatives of the Korea-Chile Business Council. I also had a tremendous opportunity to speak with the Trade, Industry and Energy Minister and the Minister of Trade. Together, we reflected on our shared vision of the future of the trade and investment relationship between Chile and South Korea.»

Similarly, InvestChile Director Karla Flores noted, «Chile has become a knowledge-based industry leader. The service export policy has strengthened the country’s digital infrastructure, powering the industry and providing 270,000 highly sophisticated jobs. Korea has an extremely rich and innovative ecosystem, making it an ideal partner for developing second-generation investment opportunities in Chile.»

The schedule for the second day of the tour in Korea includes a round table promoting the opportunities derived from the National Lithium Strategy.

On Sunday, October 15, the delegation will join ChileWeek in China, where InvestChile is organizing five industry workshops. They will present investment opportunities in the lithium, electromobility, infrastructure and energy sectors to local companies.

Check out the best images from the first day of the South Korea tour: