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South Korean Foreign Minister, Chile Agree Deepen Trade Relations

Seoul (ANTARA/Yonhap-0ANA) - South Korean Foreign Minister Yu Myung-hwan and his guest Minister of Foreign Affairs of Chile, Alfredo Moreno agreed to enhance bilateral trade relations, and expanding free trade agreements (FTAs) they, the foreign ministry said Seoul , Thursday.

"Both sides expressed satisfaction that their countries are working closely based on mutual understanding and trust, since they established diplomatic relations in 1962.

"Their bilateral relations in various fields, including economic and trade sectors, which more and more improved and expanded since the FTA into force on 2004," the ministry said in a press conference after their talks in Seoul.

"He added that the two sides noted the FTA between the two countries provides many benefits for both their people, and vowed to continue to deepen and broaden the implementation of the FTA," he added.

The two ministers also called for increased efforts to sign social security agreement between the countries, to help shape more investment opportunities, according to a press release it.

Morena arrived in Seoul Wednesday for a two-day visit.