Chile to Pursue Cooperation with Korea in 5G, Electric Vehicles, Energy

Chilean President Sebastian Pinera, who is visiting South Korea, said on April 29 that his country will strengthen cooperation with Korea in 5G telecommunications, electric vehicles and clean energy.

"We will be able to cooperate in various areas, including 5G, where Korea has a lot of experience, and we are working to change the transportation system by introducing electric vehicles and preparing to introduce future energy sources such as solar energy, wind power, tidal energy, and geothermal power," President Pinera said at a welcoming dinner hosted by five economic organizations including the Korea Chamber of Commerce and Industry and the Korea International Trade Association at Lotte Hotel in Seoul.

"Korea, one of the few countries that have developed from a underdeveloped country to an advanced country, is the world’s 11th largest economy and Chile's fifth largest economic partner," he said. "Korea has become an advanced country based on four pillars: a business environment where innovative startups can be established, economic opening, savings and investment for the future, and education. Chile is also striving to become a country like Korea."
 

The Chilean president held a summit with President Moon Jae-in in the morning and meet with Korean business leaders in the afternoon. On the Korean side, Hyundai Motor Group vice chairman Chung Eui-sun, Hanwha Corp. CEO Ok Kyung-seok and Eagon Industrial Co. chairman Park Young-ju attended the event. In addition, some 200 people, including Kim Jun-dong, vice chairman of the Korea Chamber of Commerce and Industry, Han Jin-hyun, vice chairman of the Korea International Trade Association, and Suh Seung-won, vice chairman of the Korea Federation of SMEs, joined the gathering. On the Chilean side, Foreign Minister Roberto Ampuero, Senate President Jaime Quintana and Ambassador to South Korea Fernando Danus attended the meeding.
 

On the same day, the Korea Chamber of Commerce and Industry held the 22nd joint meeting of the Korea-Chile Economic Cooperation Committee in collaboration with the Chilean Industry Association (SOFOFOFA). The Korea-Chile Economic Cooperation Committee was established in 1979 to discuss major economic and industrial issues and ways to cooperate in the economy and create a window for bilateral business exchanges. Vincent Pinto, an official at Chile's investment agency, introduced the investment environment in Chile's energy, agriculture, infrastructure and ICT-related industries, while Lee Jae-kwang, executive vice president of SK Telecom, made a presentation on Korean companies' innovation cases in high-tech industries.

The two sides also presented examples of economic cooperation between the two countries. Andreas Takamiya, manager of Agrosuper, a global food company in Chile, introduced the excellence of Chile's agricultural and livestock industries and exports of Chilean products to Korea. Kim Yang-rae, head of POSCO E&C's overseas power generation operations, introduced major projects the company has landed in Chile, including the coal-fired Ventanas Power Plant.