By Shim Jae-yun
Korea Times Correspondent

SANTIAGO - South Korea and Chile Friday agreed to take bilateral relations up a notch to one that is comprehensively cooperative for joint prosperity in the 21st century.

President Roh Moo-hyun and Chilean President Ricardo Lagos Escobar also expressed satisfaction by the implementation of the South Korea-Chile Free Trade Agreement signed in April this year.

During a summit meeting at the Presidential Palace, the two leaders noted the bilateral trade volume increased 73 percent in the last six months from a year earlier since the signing of the free trade pact.

They agreed on the need for Korean companies to actively participate in projects for construction and infrastructure and natural resources exploration of the South American nation.

With the goal of promoting exchanges in the industrial, science and technology fields, the two leaders also agreed to set up a $3 million fund to carry out a joint feasibility study.

Roh explained the Seoul government’s efforts to help resolve the lingering impasse over the North Korean nuclear weapons program, while the Chilean leader expressed support for the efforts.

Roh appreciated Chile’s support in South Korea’s attempt to become a non-standing member of the United Nations Security Council in 2007 or 2008.

``The two leaders concurred on the need to speed up reforms in the United Nations Security Council and increase the number of non-standing council members,’’ presidential secretary on foreign policy Chung Woo-sung said.

Roh called for Chile’s support for the King Sejong Base on the Antarctic peninsula, emphasizing joint cooperation for Antarctic research.

Roh is set to attend the APEC session beginning Sunday, along with leaders from 21 Asian and Pacific Rim countries.

During the summit session, Roh will explain Seoul’s endeavors to find a peaceful solution to the North Korean nuclear issue and appeal for support from the participating nations.

Roh will also brief South Korea’s readiness to host the APEC forum in 2005, while vowing to cooperate in anti-terrorism campaign.

The leaders are set to adopt a joint statement at the end of the session Sunday, calling for concerted efforts to cope with global terrorism, root out corruption and strengthen the multilateral trade system.

jayshim@koreatimes.co.kr