President Moon Jae-in held a bilateral summit today with Chilean President Sebastian Pinera.<br />Their discussions were mainly related to upgrading their 56-year-old bilateral ties,... and were focused on economic cooperation.<br />For more, we have our Park Hee-jun on the line for us.<br />Hee-jun, tell us more about what was on the table for today's summit.<br />Ji-yoon.<br />Their meeting at the Blue House was focused on finding ways to further advance their ties, which would lead to both countries' prosperity.<br />And as you said,... at the center of that is economic cooperation.<br />The two sides agreed to work to amend their free trade agreement,... in a way that reflects the global economy.<br />Trade volume between South Korea and Chile increased four-fold to 6-point-2 billion U.S. dollars,... since the agreement came into effect in 2004.<br />They're going to further boost cooperation in areas concerning the fourth industrial revolution, including 5G networks and information and communications technology.<br />The two sides also signed a set of MOUs.<br />They covered the ICT industry, such as big data and artificial intelligence,... as well as defense cooperation, transport logistics, and electronic government.<br />And what other topics were discussed other than the two countries' economic ties?<br />Another focal point of today's meeting,... was South Korea’s associate membership of the Pacific Alliance.<br />The Pacific Alliance is a Latin American trade bloc made up of four countries bordering the Pacific Ocean: Chile, Mexico, Colombia, and Peru.<br />They make up almost 40 percent of the total Latin American GDP.<br />President Moon expressed his wish for Korea to join that alliance, in hopes of increasing trade between Asia and Latin America.<br />President Pinera said Chile will support such efforts to make it happen.<br />President Moon also thanked President Pinera for backing the peace drive on the Korean Peninsula.<br />President Pinera said his government will continue to support South Korea's efforts for achieving complete denuclearization and lasting peace.<br />This is President Pinera's second visit to Seoul. His first was in 2012 when he came for the Nuclear Security Summit,... but this visit is the first by a Latin American leader under the Moon administration.<br />The two leaders previously met on the sidelines of the UN General Assembly in New York last September.<br />That's all I have for you now. Ji-yoon <br />
