1. On Sunday June 9, Cho Tae-yul, Minister of Foreign Affairs, had a meeting with Javier González-Olaechea Franco, Minister of Foreign Affairs of the Republic of Peru, who is visiting Korea to participate in the 2024 Korea-Latin America (LAC) Future Cooperation Forum. They discussed bilateral relations, economic and trade cooperation, substantive cooperation, and multilateral cooperation.

2. Minister Cho expressed his appreciation towards Minister González-Olaechea for his participation in the Korea-LAC Future Cooperation Forum. He also highly valued the two countries’ lasting friendship as comprehensive strategic partners, and looked forward to enhancing bilateral cooperation through Minister González-Olaechea's visit. In response, Minister González-Olaechea expressed his satisfaction in being able to witness the development of Korea-Peru bilateral relationship over the years. He also delivered letters from H.E. Dina Boluarte, President of the Republic of Peru, inviting President Yoon to participate in the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in November this year and to officially visit Peru on that occasion.

3. The two ministers praised the growth of trade and investment, which has increased by more than 80 percent since the Korea-Peru Free Trade Agreement (FTA) took effect in 2011. They also appreciated the active role of Korean companies in Peru. The two ministers reaffirmed Peru's support for Korea's application for associate membership in the Pacific Alliance (PA) and Korea's support for Peru's application for membership in the Organisation for Economic Co-operation and Development (OECD).

4. In addition, the two ministers hoped that the Korea-Peru Climate Change Cooperation Agreement, to be signed after the meeting, would strengthen bilateral cooperation in addressing climate change.

5. Minister Cho then asked for Peru's active support for the successful completion of the construction of the Chinchero international airport, which will serve as a gateway to Machu Picchu and as a symbol of Korea-Peru cooperation in infrastructure. In response, Minister González-Olaechea said that the Ministry of Foreign Affairs of Peru will actively consult with the relevant ministries to ensure its smooth completion. He also asked for Korea’s attention to major national infrastructure projects in Peru, including the construction of the Corio port.

6. In addition, Minister Cho appreciated the recent significant strengthening of bilateral cooperation in the defense industry, including naval ships and armored vehicles. He also asked for Minister González-Olaechea's attention to the Korean light attack aircraft (FA-50), which has proven to be stable, in relation to the Peruvian government's recent project to acquire military aircraft. In response, Minister González-Olaechea reaffirmed the interest and expectations of the government of Peru for Korea-Peru bilateral cooperation in the defense industry.

7. Minister González-Olaechea asked for investment from Korean firms in the field of electric vehicles, praising Korea's technological capabilities. He noted that the abundant labor force and market size of the Andean Community, including Peru, will be of great help to Korea's electric vehicle and battery businesses. He also asked for an exemption from the Korea Electronic Travel Authorization (K-ETA) for ordinary Peruvian passport holders to expand people-to-people exchanges.

8. Minister Cho praised Peru's leadership as Chair of APEC this year, and shared that Korea has begun preparations to host the APEC meetings in 2025. He also mentioned that Korea looks forward to learning from Peru's experience as 2024 Chair of APEC through the APEC troika system. In response, Minister González-Olaechea hoped that Korea would build upon the fruits of this year’s APEC Economic Leaders’ Meeting in Peru through bilateral cooperation.

9. Finally, Minister Cho explained the ROK government’s legitimate response to North Korea’s recent series of provocations, including the release of trash balloons, which have posed real harm and threats to Korean citizens. Stressing that North Korea is also threatening global security through its military cooperation with Russia, Minister Cho expressed his appreciation for Peru’s support towards Korea’s position on North Korea and looked forward to continued cooperation. In response, Minister González-Olaechea emphasized that Peru, as a country that supports the universal values of freedom, peace, and democracy, does not tolerate such actions by North Korea that threaten world peace. Also, he expressed Peru’s support towards the ROK’s efforts to denuclearize the Korean Peninsula and promote peace and stability in the region.

10. This meeting was the first foreign ministers’ meeting since the Korea-Peru Summit held on the occasion of the APEC Economic Leaders’ Meeting in San Francisco in November 2023. It served to strengthen the foundation for deepening bilateral cooperation as comprehensive strategic partners.