The capital of Chile is Santiago. Santiago is also the largest city in Chile and one of the most populous cities in Latin America. It lies on the canalized Mapocho River with views of the high Andean peaks to the east. The city was founded in 1541 by the Spanish conquistador Pedro de Valdivia, originally named Santiago del Nuevo Extremo. It serves as the political and financial center of Chile and has a rich cultural and historical significance, including its role in Chile's independence. Santiago is situated in a basin surrounded by coastal and Andes mountains and represents the core of the Santiago Metropolitan Region, which holds about 40% of the country's population.