South Korea, Brazil agree to expand cooperation in key minerals, trade
South Korean President Lee Jae Myung held summit talks in Seoul on Monday with Brazilian President Luiz Inácio Lula da Silva, where they agreed to expand cooperation in sectors including trade, key minerals, technology and culture.
The leaders plan to elevate the bilateral relationship into a strategic partnership, and for the countries to work together to support stability on the Korean Peninsula, Lee said.
“Peace, built on conditions where conflict isn’t needed, is the strongest form of security,” the South Korean president told a joint press conference.
The leaders oversaw the signing of 10 memoranda of understanding (MOUs) spanning trade and industrial policy, core minerals, digital economy including AI, agriculture, health and biotech, small-business exchanges and joint policing against cybercrime, narcotics and other transnational threats.
In earlier remarks, Lee said the two sides adopted a four-year action plan to map out concrete steps for expanding bilateral cooperation, from strategic minerals to defence and space industries, as well as food security.
Brazil is South Korea’s largest trading partner in South America, making economic cooperation a key part of the agenda.
Lula said Brazil holds large rare-earth reserves and has substantial nickel deposits, and that his government hoped to attract investment from South Korean companies.
