LIMA: President Yoon Suk Yeol of South Korea and President Dina Boluarte of Peru have reached an agreement to enhance cooperation in the defense and mineral sectors during their recent summit meeting in Peru. The discussions took place on the sidelines of the Asia-Pacific Economic Cooperation summit, highlighting Seoul's interest in strengthening partnerships with Peru, a nation rich in mineral resources and with promising potential for defense industry collaboration. According to Yonhap News Agency, Yoon and Boluarte viewed a presentation on the progress of bilateral defense cooperation and took part in a ceremony for the signing of nameplates for three naval vessels being built by South Korean firms at a Peruvian shipyard. In a significant development, HD Hyundai Heavy Industries entered into a memorandum of understanding (MOU) with SIMA, Peru's state-owned shipyard, to jointly develop submarines. This initiative follows Hyundai's existing $463 million contract to construct naval vessels for the Peruvian N avy. Furthermore, Korea Aerospace Industries (KAI) and SEMAN, Peru's state-run aviation agency, signed an MOU for the joint production of components for the KF-21 fighter jet. Additionally, Hyundai Rotem and Peru's Army Weapons and Ammunition Factory (FAME) established a comprehensive cooperation agreement aimed at enhancing collaboration on army ground equipment. Both leaders described the defense partnership as a "milestone in advancing the comprehensive strategic relationship," acknowledging its potential to strengthen Peru's defense industry. President Yoon expressed optimism that the defense industry collaboration could act as a "catalyst" for expanding Korea's defense technology partnerships throughout Latin America. "The agreements demonstrate that bilateral defense collaboration has evolved beyond simple procurement to a stage of mutual growth through co-development and co-production," Yoon remarked. The two presidents also committed to deepening economic ties, particularly in the areas of critical minerals and infrastructure development. They signed an MOU focused on critical minerals to promote information exchange, conduct joint geological surveys, and foster technological cooperation, capitalizing on Peru's abundant deposits of copper, silver, selenium, and zinc. In terms of infrastructure, the leaders vowed to collaborate on the successful completion of the Chinchero Airport project, which aims to serve as a gateway to Machu Picchu, while also encouraging Korean companies to participate in Peru's infrastructure ventures. During the summit, both leaders condemned North Korea's nuclear and missile activities, emphasizing the need for "complete, verifiable, and irreversible denuclearization" of the Korean Peninsula. They also expressed concern over human rights conditions in North Korea, as stated in their joint declaration. President Boluarte supported President Yoon's vision for a peaceful and unified Korean Peninsula and agreed to cooperate with South Korea in promoting regional peace and stabil ity. This visit marks the first by a South Korean president to Peru in nine years and is President Yoon's inaugural trip to South America since assuming office in May 2022.