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South Korea's trade ministry said Tuesday it has launched another round of talks with Chile to update their bilateral free trade agreement (FTA) that went into effect in 2004, aiming to reflect the latest changes in the global supply chain and the digital economy.
Director General for FTA Policy Ahn Chang-yong met his Chilean counterpart, Pablo Urria, in Santiago for the ninth round of negotiations on improving South Korea's first FTA, according to the Ministry of Trade, Industry and Energy.
"During the negotiations, we will focus efforts on discussing cooperative measures in various areas, including energy, mineral and intellectual property rights, along with the trade of goods," Ahn said.
"We aim to build the foundation for bolstering cooperation with Chile, a nation rich in natural resources, including lithium and copper deposits," the chief negotiator added.
South Korea and Chile have been carrying out talks since 2018 to update the FTA to further broaden ties in trade, investment and other areas of economic cooperation. (Yonhap)
