Visiting Chilean President Michelle Bachelet Jeria (left) and Peruvian President Alan Gabriel Garcia Perez

The President will meet with two Latin American Presidents from Nov. 11 to 12 at his office in Seoul, according to Cheong Wa Dae.

President Lee and his Chilean counterpart Michelle Bachelet Jeria, who visits Seoul from Nov. 10 to 12, will meet with each other on Wednesday (Nov. 11) and review the 5-year achievements of the Korea-Chile FTA, discuss bilateral cooperation plans in energy/resources, culture, and personnel exchange, and share thoughts on climate change and ways to recover from the global financial crisis, said the presidential office.

Bilateral trade between Korea and Chile has increased fourfold to US$7.2 billion since the Korea-Chile FTA took effect in 2004. Over the same period, exports to Chile have expanded sixfold and imports from the country have risen threefold.

During her Seoul visit, President Bachelet will make a speech at the Korea-Latin America ranking officials'' meeting at COEX, southern Seoul, meet with Korean economic leaders at a luncheon, attend a breakfast meeting of Korean and Chilean businessmen, and receive an honorary doctorate degree at Ewha Womans University, according to Cheong Wa Dae.

On Nov. 12, President Lee will have a summit meeting with Peruvian President Alan Gabriel Garcia Perez, who is in Seoul from Nov. 11 to 12, at Cheong Wa Dae to discuss an early conclusion of Korea-Peru FTA and Korea''s expanded business operation in Peru in the areas of energy and resources.

President Garcia''s visit to Seoul has great significance in that it would further advance the comprehensive partnerships made between Korea and Peru when President Lee made an official visit to Peru last November, Cheong Wa Dae said.

The Peruvian President will also meet with the President of the Korea International Cooperation Agency (KOICA), and hold a separate meeting with Korean CEOs who are interested in business expansion in and investment into Peru, the office said.

Meanwhile, bilateral trade between Korea and Peru increased to $1.6 billion as of 2008 from $530 million in 2005.