President to lock in mineral supply chains in South America trip

President Lee Jae Myung is seeking to enhance cooperation on critical minerals with South American countries during his three-nation tour this week.

Lee is visiting Brazil from Sunday through Tuesday (local time), Chile from Wednesday to Thursday, and Argentina from Thursday to Saturday, as Korea seeks to secure resilient supply chains for strategic resources amid heightened economic security risks.

The trip includes summits with the leaders of all three countries, with trade and investment with Mercosur, a South American trade bloc, expected to top the agenda.

The president underscored the need for closer cooperation on critical minerals in the era of artificial intelligence (AI), describing Korea's relationship with South America as "entering a new phase" in a written interview with Spain’s EFE news agency released last week.

His comments were widely seen as a reference to the growing demand for critical minerals, including rare earth elements used in semiconductors and other AI-related technologies.

“Cooperation between Korea and South America should evolve beyond the traditional e ...