AI summit, critical minerals talks on South Korean president’s agenda
Lee will begin the trip Friday in San Francisco, where he plans to attend an AI summit and discuss cooperation with global technology companies based in Silicon Valley, according to Wi’s briefing. The president will also attend a Silicon Valley venture investment summit Saturday and meet representatives of U.S. venture capital firms.
Wi said the meeting would advance South Korea’s strategy for AI and semiconductor development following the government’s announcement of three major national projects. The presidential office said it hopes to connect the South Korean and U.S. venture investment ecosystems and expand opportunities for South Korean startups to attract international funding.
From Sunday through Wednesday, Lee will pay a state visit to Brazil for a summit with President Lula. The two leaders are scheduled to hold a joint news conference and sign a series of memoranda of understanding, followed by a state luncheon. Lee will travel to São Paulo on Tuesday for a luncheon with Korean residents and a South Korea-Brazil business roundtable.
Brazil holds major reserves of rare-earth elements needed for industries including semiconductor manufacturing.
Lee will make an official visit to Chile from Wednesday through Thursday and meet President Kast, whose administration took office this year. Chile is a major global source of lithium, a critical material used in electric vehicle batteries and energy storage systems.
Lee will then visit Argentina from Thursday through Saturday. It will be the first official visit to Argentina by a South Korean president in 22 years, according to the presidential office. Argentina has some of the world’s largest shale gas resources and is part of South America’s “lithium triangle” with Chile and Bolivia.
Wi said the South American tour was intended to expand trade and investment with Brazil, Chile and Argentina while helping South Korean companies enter new markets.
Lee plans to discuss restarting negotiations on a trade agreement between South Korea and the South American trade bloc Mercosur during his meetings with the leaders of Brazil and Argentina, Wi said. Brazil and Argentina are leading members of the regional bloc. Lee will also discuss modernizing South Korea’s free trade agreement with Chile, the first country to sign such an agreement with Seoul.
“We expect this to significantly increase trade with these countries and expand opportunities for our companies to enter South American markets,” Wi said.
Wi said the trip would also broaden South Korea’s diplomacy in the Global South and strengthen cooperation with major South American countries in international forums.
Lee will wrap up his trip in Frankfurt, Germany, where he will hold a meeting with South Korean residents there before returning home on Aug. 3.