[Full Text] Joint Declaration on Strengthening Bilateral Relations between Korea and Peru

President Yoon Suk-yeol is holding an expanded Korea-Peru summit with Peruvian President Dina Boluarte at the Presidential Palace in Lima, Peru, on the 16th (local time) during the APEC meeting. Photo by Yonhap News

On the 16th (local time), President Yoon Suk-yeol held a summit with Peruvian President Dina Boluarte in Lima, Peru, and announced that they agreed to further expand cooperation in defense and defense industry sectors, including the joint development of naval vessels.

After the summit, the two leaders adopted a joint declaration to strengthen cooperation in defense industries as well as in critical minerals.

The following is the full text of the "Joint Declaration on Strengthening Bilateral Relations between the Republic of Korea and the Republic of Peru."

President Yoon Suk-yeol of the Republic of Korea (hereinafter "Korea") officially visited Peru on November 16, 2024, at the invitation of President Dina Ercilia Boluarte Segarra of the Republic of Peru (hereinafter "Peru"). The two leaders reaffirmed that since the establishment of diplomatic relations in 1963, Korea and Peru have developed a solid friendship for over 60 years. They emphasized that the two countries have dynamically strengthened and diversified their comprehensive strategic partnership established in 2012 across various fields. They reconfirmed their commitment to deepen cooperation in trade and investment, science, technology and innovation, information and communication technology, defense industry, tourism, human exchanges, and multilateral cooperation on global and regional challenges. They agreed on the importance of continuously exploring new cooperation methods in areas of mutual interest and stressed that respecting and promoting fundamental values such as freedom, democracy, human rights, and the rule of law is a way to strengthen mutual trust, cooperation, and shared prosperity, which constitute the joint future vision of both countries. Accordingly, they agreed on the following joint declaration.

[Political and Diplomatic Relations]

1. The two leaders recalled the summit held on November 16, 2023, in San Francisco, USA, where they agreed to further develop bilateral cooperation and emphasized the importance of continuously strengthening high-level exchanges to advance major cooperative projects and discover new areas of cooperation.

2. The two leaders evaluated the successful holding of the High-Level Policy Consultations in September 2024 and the Joint Committee on Economic, Science and Technology in April 2023, and emphasized the importance of regular meetings of these vice-ministerial consultative bodies through smooth communication between the foreign ministries of both countries.

3. The two leaders agreed on the importance of actively participating in international events hosted by each country and seeking opportunities to analyze and cooperate on regional and global issues together.

[Industry, Trade, Infrastructure]

4. The two leaders emphasized the great potential to expand and diversify trade between the two countries based on their economic complementarity and the Korea-Peru Free Trade Agreement (FTA) that came into effect in 2011. In this regard, they agreed to work together to maximize the benefits of the Korea-Peru FTA for their peoples.

5. The two leaders highlighted Peru as a stable and strategic supplier of critical minerals essential to Korea's industrial development, such as copper, zinc, and molybdenum, and agreed to mutually cooperate to promote investment in the mining sector and expand trade.

6. The two leaders confirmed that food security between the two countries has been comprehensively strengthened thanks to increased agricultural and fishery trade under the Korea-Peru FTA, and agreed to strive to increase production and export of high value-added agricultural and fishery products. They recognized the importance of low-carbon policies and digital transformation of food safety management and welcomed the signing of the "Implementation Agreement on the Use of Electronic Certificates for Fishery Trade between the Korea Food and Drug Administration and the National Fisheries Health and Safety Agency of the Republic of Peru." They expected that this implementation agreement would enhance fishery safety management and reduce customs clearance time and costs, thereby promoting fishery trade between the two countries.

7. The two leaders emphasized that considering the high technology and experience of Korean companies and the various public infrastructure projects underway in Peru, there are opportunities for cooperation in the public investment sector. They agreed on the importance of promoting Korean companies' participation in Peruvian public investment bids and Korean involvement in government-to-government (G2G) projects.

8. President Boluarte emphasized the importance of the "Technology and Industrial Complex Logistics Hub" on the central coast of Peru, which will serve as a key point to strengthen economic connectivity between Latin America and the Asia-Pacific region. This hub will consist of the recently opened Chancay Port, the remodeled Callao Port, the new city-Jorge Chavez New International Airport, the Ancon Industrial Complex, and the planned establishment of an economic special zone.

9. The two leaders emphasized that the construction of Chinchero International Airport is an important government-to-government (G2G) project that will enhance international air connectivity in Urubamba Province, Cusco Region, Peru, and promote economic and social development in southern Peru.

[Security and Defense]

10. The two leaders emphasized that strengthening cooperation in defense and defense industry sectors has been a milestone in the development of the comprehensive strategic partnership and that Peru will contribute to enhancing its defense industry capabilities in strategic areas.

11. They recalled that since the signing of the Memorandum of Understanding on Defense Industry and Military Logistics Cooperation between the Ministry of National Defense of the Republic of Korea and the Ministry of National Defense of the Republic of Peru on June 17, 2010, and the Memorandum of Understanding on Defense Cooperation between the two ministries on October 18, 2011, Korea has contributed to strengthening Peru's defense system through the KT-1P aircraft, coastal patrol boats, joint production of multipurpose support ships, and the donation of two Pohang-class patrol vessels.

12. The two leaders highlighted the following strategic cooperation agreements signed in 2024: (1) The Strategic Partnership Agreement and contracts for the construction of two landing ships, one offshore patrol vessel, and one frigate between Hyundai Heavy Industries and the Peruvian state-owned shipyard (SIMA Peru) signed in April 2024; (2) The Strategic Partnership Agreement for the development of special military vehicles for Peru between the STX-Hyundai Rotem consortium and the Peruvian Army's Ordnance Factory (FAME) signed in May 2024; (3) The agreement between Korea Aerospace Industries (KAI) and the Peruvian state-owned aviation authority (SEMAN Peru) signed in July 2024; (4) The Memorandum of Understanding on Joint Development of Naval Vessels (Submarines) between Hyundai Heavy Industries and SIMA Peru signed on November 16, 2024; (5) The General Cooperation Agreement on Ground Equipment between Hyundai Rotem and FAME signed on November 16, 2024; (6) The agreement between KAI and SEMAN Peru signed on November 16, 2024.

[Technical Cooperation]

13. The two leaders confirmed that Peru is a major development cooperation partner of Korea in Latin America and that Korea contributes to Peru's sustainable development. They agreed to continue efforts to stably promote development cooperation projects by concluding the Basic Agreement on Grant Aid currently under review.

14. President Boluarte expressed gratitude for the valuable cooperation Korea has provided to Peru in public administration, environment, health, transportation, broadcasting and communications, agriculture and fisheries, manufacturing, humanitarian assistance, and gender sectors. Furthermore, the two leaders agreed to continue expanding cooperation in development assistance.

15. The two leaders recognized the great potential of digital transformation in promoting sustainable and inclusive economic growth and welcomed the signing of the Memorandum of Understanding on the Operation of the Korea-Peru Digital Government Cooperation Center between the Ministry of the Interior and Safety of Korea and the Office of the Prime Minister of Peru, as well as the Memorandum of Understanding on Cooperation in Information and Communication Technology between the Ministry of Science and ICT of Korea and the Ministry of Transport and Communications of Peru. They expressed the view that this cooperation will promote innovation-based startups, enhance digital capabilities of citizens and businesses, and facilitate technology transfer and management experience exchange.

[Climate Change]

16. The two leaders emphasized the importance of intergovernmental cooperation to respond to and mitigate the impacts of climate change. In this regard, they highlighted that the Korea-Peru Climate Change Cooperation Agreement, signed on June 9, 2024, has established a solid framework for comprehensive cooperation between the two countries to reduce greenhouse gas emissions, strengthen climate change adaptation capabilities, and promote a sustainable and resilient low-carbon economy. They mentioned that the agreement has been ratified and will enter into force soon.

[People-to-People Exchanges]

17. The two leaders agreed that exchanges between their peoples form the fundamental basis for the development of bilateral relations. In this context, they agreed to work to further activate youth exchanges through programs such as working holiday schemes.

18. The two leaders reaffirmed the role of education in fostering friendship and mutual understanding among their peoples and agreed to promote cooperation in higher education, including human exchanges and joint research between universities.

19. The two leaders emphasized that Korea and Peru possess rich tangible and intangible cultural heritage and recognized the potential of culture and cultural industries in enhancing mutual respect and understanding between different societies. In this context, they agreed to promote various forms of exchanges in cultural fields such as music, dance, visual arts, and cultural heritage.

20. The two leaders agreed to strengthen the capabilities of their tourism industries to promote sustainable and safe tourism and welcomed the signing of the Memorandum of Understanding on Tourism Cooperation between the Ministry of Culture, Sports and Tourism of Korea and the Ministry of Foreign Trade and Tourism of Peru.

21. The two leaders expressed the importance of the prompt entry into force of the Air Services Agreement between the Government of the Republic of Korea and the Government of the Republic of Peru, signed on April 18, 2023. They welcomed the ratification of the agreement and stated that it will enter into force soon.

[Multilateral Cooperation]

22. The two leaders recalled that multilateralism is the most effective way to respond to regional and global challenges based on justice, peace, and sustainability, and reaffirmed their firm commitment to strengthening multilateralism.

23. President Yoon congratulated Peru on its significant achievements during its chairmanship of APEC in 2024 and on the successful hosting of the APEC summit on November 15-16, 2024.

24. President Boluarte expressed gratitude for Korea's valuable support during Peru's 2024 APEC chairmanship and congratulated Korea on its upcoming APEC chairmanship in 2025, reaffirming Peru's support for Korea's meaningful achievements.

25. The two leaders emphasized the importance of the "APEC for Citizens" initiative launched by the Peruvian Ministry of Foreign Affairs during Peru's 2024 APEC chairmanship to raise public awareness of APEC's significance and promote civil society participation through various academic, cultural, and science and technology activities involving APEC member states and regional government authorities, officials, private sector, and academia.

26. The two leaders highlighted joint efforts between Peru and Korea regarding the resolution proposed by Peru and Rwanda at the UN Environment Assembly in March 2022 to draft a legally binding international instrument to end plastic pollution. They agreed to actively cooperate to ensure that a historic agreement is reached at the 5th Intergovernmental Negotiating Committee scheduled to be held in Busan, Korea, at the end of November 2024.

27. President Yoon reaffirmed Korea's support for Peru's accession to the OECD, and President Boluarte reaffirmed Peru's support for Korea's associate membership in the Pacific Alliance.

[Korean Peninsula Situation]

28. The two leaders condemned North Korea's nuclear tests and missile launches, which threaten the global non-proliferation regime and regional and global peace and security, and reiterated their call for the complete, verifiable, and irreversible denuclearization of North Korea.

29. President Boluarte expressed support for the goal of achieving a free, peaceful, and prosperous unified Korean Peninsula. In this context, she emphasized the need to continue seeking peaceful means to achieve this goal and welcomed the Korean government's "Bold Initiative" and "August 15 Unification Doctrine."

30. The two leaders expressed deep concern over human rights violations in North Korea that may constitute crimes against humanity. They agreed to strengthen cooperation through relevant international organizations to promote human rights in North Korea and urged North Korea to immediately cease human rights violations. The Korean President expressed deep gratitude to President Boluarte and the people of Peru for their warm hospitality extended to him and his delegation.