President Yoon Suk Yeol and Peruvian President Dina Boluarte have agreed to strengthen cooperation between their two nations in the defense industry, supply chain, minerals and infrastructure.

The two leaders made the agreement on Thursday in a summit held on the sidelines of an Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. 

Calling Peru South Korea's traditional ally that shares core values and a key partner in Latin America, Yoon said that he is pleased that the volume of mutual trade has continued to expand since their bilateral free trade agreement came into effect in 2011 and that the two countries have developed a comprehensive strategic partnership. 

The two leaders promised close cooperation ahead of Peru's APEC chairmanship next year and South Korea's chairmanship in 2025, to ensure the forum contributes to prosperity and sustainable growth within the APEC region.

Boularte also expressed hope for bilateral cooperation in the multilateral forum and for increased cooperation in the private sector, including digital and artificial intelligence. 

President Yoon also asked for Peru's support for South Korea's bid to host the 2030 World Expo in Busan.

Yoon reportedly said that he was aware that the Peruvian government is pushing to introduce wheeled armored vehicles and new fighter jets, asking for Peru's interest and support for South Korean companies' armored cars and its light combat aircraft FA-50s.