Chile and The Republic of Korea Celebrate Two Decades as Trading Partners

The free trade agreement (FTA) between Chile and Korea has been of great benefit to both nations since they signed the FTA agreement in 2003. The agreement between both countries was the first Trans-Pacific agreement to be made within the international economy.

For Chile, it was the first agreement with a country on Asia’s Pacific Rim, and for the Republic of Korea, it was the beginning of a shift towards preferential trade agreements.

Trade Benefits and Linguistic Support: A Closer Look

Over the years, both countries have recorded significant economic boosts from the agreement, with roughly a six percent increase yearly in their bilateral trade. Some main products exported from Chile to Korea include Chilean lithium, alcohol, meat, and grapes, amongst others; Korea currently ranks number 4 on the destination of Chilean exports.

As both countries boast different linguistic backgrounds, it can be said that one key factor to their successful trade is the ease of communication either by multilingual representatives, interpretation, or translation service providers. GPI has curated this valuable resource, the Korean language translation eBook, which provides valuable information to anyone seeking to learn more about the Korean writing system, language, and culture.

Read more about Chile and Korea celebrating 20 years as key trading partners.