"In North Asia, including Korea, there is a broad middle-class consumer base with strong purchasing power."
At the Chile–North Asia Business Summit 2026 held on the morning of the 8th at Andaz Seoul Gangnam in Gangnam-gu, Seoul, Ignacio Fernández, head of ProChile, said this in explaining why the organization is focusing on the North Asian market, adding, "Chilean products are already being exported to these regions, but the market still has strong growth potential."
The event is a business gathering organized by ProChile, an export promotion agency under the Ministry of Foreign Affairs of Chile, to explore new business opportunities in North Asian markets such as Korea, Japan and Taiwan. This is the first time it has been held in Korea. According to ProChile, during the event, which runs through the 9th, more than 30 Chilean exporters will meet with over 80 buyers from the three countries.
According to Fernández, Chilean agri-food products account for just over 3% of the food markets in the three North Asian countries—Korea, Japan and Taiwan. However, last year Chile's exports to the three North Asian countries totaled $4.78 billion (about 6.4 trillion won) even excluding copper and lithium, a level similar to exports to the European Union (EU). As trade volume is expanding rapidly while market share remains low, Chilean products have ample room for growth, Fernández said.
Chile assesses that among the three North Asian countries, the Korean market is growing particularly fast. As of last year, exports excluding copper and lithium were $1.622 billion (about 2.2 trillion won), less than Japan's $2.756 billion, but the growth rate was 16.6%, the highest among the three markets. During the same period, exports to Japan rose only 0.5% from the previous year. Felipe Umaña Cerón, commercial attaché at the Embassy of Chile in Korea, said, "Korean consumers have sophisticated tastes and recognize the competitiveness of Chilean agri-food products."
In 2003, Korea became the first Asian country with which Chile signed a free trade agreement (FTA), and the two countries have since developed relations in the economy and trade over more than 20 years. In Jul., President Lee Jae-myung paid an official visit to Chile, and the two countries agreed to expand economic cooperation in areas such as trade and investment. This long-standing trade relationship is one reason Korea was chosen as the host for the Chile–North Asia Business Summit 2026 to expand into the North Asian market.
In addition to minerals such as copper and lithium, Chile exports a variety of agricultural and marine products to North Asia, including Korea. Major exports include fresh fruit such as cherries, blueberries, apples and lemons; seafood such as salmon; meat; wine; and processed foods. Last year, Korea, Japan and Taiwan accounted for about 28% of Chile's total exports excluding copper and lithium.
The strengths Chile highlights for its domestic agri-food products are high quality and safety. ProChile said Chilean foods are produced safely under high phytosanitary standards and a systematic traceability system, and that quality is being enhanced through sustainable production methods that use renewable energy.
Iván Marambio, chair of Frutas de Chile (Chilean Fresh Fruit Exporters Association), said, "Chilean fruit can be traced through every step from production to the table," adding, "You can assume the share of fruit that fails to comply with food safety rules in that process converges to 0%."
Chile plans to use this event as a springboard to increase exports to the three North Asian countries. Frutas de Chile has a goal of increasing exports of blueberries, a popular export fruit to Korea, from the current 33,000 tons to 50,000 tons.
Matías Franke, ambassador of Chile to Korea, said, "Bilateral trade has quadrupled since the FTA was signed, and Korea is one of Chile's top five trading partners," adding, "As trade in the food industry becomes particularly active and Korean consumers have trust in Chilean foods, we will in turn provide safe and reliable exporters."