▲ President Lee Jae Myung attends a meeting with venture capital firms in San Francisco on July 25, 2026. (Yonhap)

By Park Boram

SAN FRANCISCO, July 25 (Yonhap) -- South Korea's relationship with South America is entering a "new phase," President Lee Jae Myung said in a recent interview published Saturday, adding his country seeks to advance negotiations for a trade agreement with the region's trading bloc and cooperation on critical minerals.

The South Korean president made the remarks in an interview with EFE, a Spanish international news agency, as he was set to arrive in Brazil on Sunday as part of a visit to three South American countries, including Chile and Argentina, for summit talks.

Ahead of the trip, Lee paid a two-day visit to San Francisco to promote AI business cooperation between South Korea and the United States.

"Mercosur countries are global leaders in agriculture, food production, energy and critical minerals. Korea is a global leader in advanced manufacturing, digital technologies, shipbuilding, batteries and innovation," Lee said in the written interview.

Mercosur is a South American economic and political bloc founded in 1991 by Argentina, Brazil, Paraguay and Uruguay. Its membership currently includes Bolivia.

"By bringing these strengths together, we can create resilient value chains that benefit both regions," EFE quoted Lee as saying.

"Rising protectionism, geopolitical tensions, supply chain disruptions and energy security concerns are reshaping the global trading system. In times like these, countries need reliable partners more than ever," he added, stressing efforts to resume negotiations on a free trade agreement with Mercosur.

"Together, we can build resilient supply chains, develop new industries and generate high-quality jobs that benefit both regions," the president said, citing South America's vast reserves of critical minerals and South Korea's advanced technology, industrial know-how and investment.

"I believe our relationship is entering a new phase. The future of Korea-Latin America cooperation should not be defined simply by the exchange of natural resources for manufactured goods. It should be about creating value together through innovation, investment, technology and human talent," he added.

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