South Korea and Chile have agreed to reactivate a joint committee aimed at modernizing their existing free trade agreement, according to South Korean President Lee Jae Myung.
The announcement, made during President Lee's visit to Santiago, marks a renewed effort to enhance bilateral trade ties between the two nations.
The reactivated committee will focus on discussing ways to update the current framework to better reflect contemporary economic realities and trade dynamics.
This development aligns with Seoul's broader strategy to strengthen its network of trade agreements.
South Korea recently commenced the second round of negotiations to upgrade its free trade agreement with Singapore, indicating a systematic approach to refreshing its commercial partnerships across the Asia-Pacific and Latin American regions.
The move comes as President Lee continues to assess the implementation status of key policy initiatives through a series of briefings with government ministries.