FEALAC or the Forum for East Asia-Latin America Cooperation is an association of 32 countries from East Asia and Latin America, which have come together to create a new mechanism of dialogue and cooperation between the two regions.

The key objectives of FEALAC are: - To increase mutual understanding, trust, political dialogue, and friendly cooperation among the member states;
- To tap the potential of multidisciplinary cooperation, such as economics, trade, investment, finance, science and technology, environment protection, culture, sports, and people-to-people exchange; and
- To expand common ground on important international political and economic issues in order to safeguard common interests.

How FEALAC Operates
- Basic System: The FEALAC is comprised of the Foreign Ministers' Meeting(FMM), Senior Officials' Meeting(SOM), Working Groups and the Core Group. For the efficiency of the system, the FEALAC chooses one Regional Coordinator country and one Deputy Coordinator country each from East Asia and Latin America. The Deputy Coordinator country automatically becomes the next Regional Coordinator right after each FFM.

- Role of the Regional Coordinator Countries:
1. Notifying the FEALAC agenda to the member nations along with gathering opinions
2. Building consensus among the member states by mediating different views, for the FEALAC to head toward the right direction
3. Hosting the SOM or the FMM

- Regional Coordinator:
1. 1st Regional Coordinators: Singapore, Chile (Sept. 3, 1999 ~ Mar. 30, 2001)
2. 2nd Regional Coordinators: Philippines, Columbia (Mar. 30, 2001 ~ Jan. 31, 2004)
3. 3rd Regional Coordinator: ROK, Brazil (Jan. 31, 2004 ~ )

- Senior Officials' Meetings (FEALAC SOM)
FEALAC SOM I: September 1~3, 1999 Singapore
FEALAC SOM II: August 16~18, 2000 Santiago, Chile
FEALAC SOM III: March 28~30, 2001 Santiago, Chile
FEALAC SOM IV: November 26~28, 2002 Bogota, Santiago
FEALAC SOM V: August 13~14, 2003 San Jose, Costa Rica
FEALAC SOM VI: January 28~29, 2004 Manila, Philippines
FEALAC SOM VII: October 27~28, 2005 Seoul, Korea
FEALAC SOM VIII: August 20~21, 2007 Brasilia, Brazil

- Foreign Ministers' Meetings (FEALAC FMM)
FEALAC FMM I: March 29~30, 2001 Santiago, Chile
FEALAC FMM II: January 30~31, 2004 Manila, Philippines
FEALAC FMM III: August 22~23, 2007 Brasilia, Brazil

Korea and FEALAC
Beginning in the 2000s, Korea-Latin America cooperation relations have steadily been promoted in the area of economy and trade. The establishment of the ROK-Chile Free Trade Agreement represents this. In addition to economy and trade, the scope of cooperation has been broadened to other areas such as people-to-people exchange, international organization cooperation, culture, art and so on. Moreover, President Roh Moo-hyun's visit to Brazil, Argentina and Chile in the year 2004 provided a great opportunity for further development of the Korea-Latin America Comprehensive Cooperation Relations, strengthening and broadening the scope of friendly relations and mutual cooperation.

The ROK also played an active role as a regional coordinator of East Asia for FEALAC from 2004 to 2007, and in particular, hosted the 7th SOM in Seoul in 2005.