Prime Highlights
- Presidents Lee Jae Myung and Luiz Inácio Lula da Silva agreed to expand cooperation in trade, technology, strategic minerals, and culture, formalizing a strategic partnership.
- The leaders signed 10 memorandums of understanding covering areas including AI, agriculture, health, biotechnology, and joint efforts against cybercrime and cross-border threats.
Key Facts
- A four-year action plan was adopted to strengthen collaboration in strategic minerals, defence, space industries, and food security between the two countries.
- Brazil remains South Korea’s largest trading partner in South America, with plans to attract South Korean investment in the rare-earth and nickel sectors.
Background
South Korea and Brazil agreed on Monday to expand cooperation in trade, key minerals, technology, and culture, as President Lee Jae Myung hosted President Luiz Inácio Lula da Silva in Seoul.
During summit talks, the two leaders decided to elevate bilateral relations to a strategic partnership. They also adopted a four-year action plan outlining steps to strengthen cooperation in areas such as strategic minerals, defence, space industries and food security.
The presidents oversaw the signing of 10 memorandums of understanding covering trade and industrial policy, core minerals, the digital economy, including artificial intelligence, agriculture, health, and biotechnology. Agreements also included small-business exchanges and joint efforts to combat cybercrime, narcotics, and other cross-border threats.
At a joint press conference, Lee said both countries would work together to support stability on the Korean Peninsula. He stressed that lasting peace provides the strongest form of security.
Economic cooperation formed a central part of the discussions. Brazil remains South Korea’s biggest trading partner in South America. Lula pointed out Brazil’s large rare-earth and nickel deposits and hoped that South Korean companies would invest more in these industries.
Lee welcomed Lula on his first state visit to Seoul in 21 years, noting similarities in their early life experiences. The two leaders previously met at global gatherings, including the G7 and G20 summits.
The talks took place at the presidential Blue House, marking the first major official welcome ceremony since Lee moved his office back to the historic building. A state banquet was scheduled for the evening, featuring Korean barbecue and Brazilian music performances, reflecting the growing cultural ties between the two nations.