During his state visit to Brazil, President Lee Jae-myung proposed the joint development of next-generation civil aircraft, supply chain cooperation in critical minerals, and K-beauty as the three key areas of cooperation at the Korea-Brazil Business Roundtable on the 28th (local time). At the event, a total of seven memorandums of understanding (MOUs) were signed, including an MOU between Korea Aerospace Industries (KAI) and Embraer of Brazil, one of the world’s top three civil aircraft manufacturers, on cooperation in the civil aviation and aerospace sectors.

● Lee: “Important to accelerate discussions on Korea-Mercosur agreement”

At the event held in São Paulo, President Lee underscored that “Korea and Brazil are like brothers.” He went on to say, “The greater the global uncertainty, the more important it becomes than ever to meet partners who can generate synergy by leveraging each other’s strengths,” adding, “If Korea, an advanced manufacturing powerhouse with unrivaled innovative technology and manufacturing capabilities, joins forces with Brazil’s abundant resources, our two countries can emerge as optimal partners leading stable supply chains and future industries together.”

Regarding the three key cooperation areas, President Lee said, “If companies from both countries pool their strengths, Korea and Brazil can grow together as a major aircraft manufacturing power leading the global aviation market, an important partner in supply chain cooperation, and furthermore, a frontrunner in the global beauty market.”

In his closing remarks, President Lee emphasized the resumption of negotiations on a trade agreement between Korea and the Southern Common Market (Mercosur). According to Presidential Policy Office Chief Kim Yong-beom in a local briefing, President Lee said, “To fundamentally increase trade and investment between the two countries in the future, it is important to accelerate discussions on a Korea-Mercosur trade agreement.” President Lee also stated, “It is true that there are complex interests surrounding the opening of the Brazilian market to Korean industrial products and the opening of the Korean market to Brazilian agricultural and livestock products, but as this is beneficial to both sides, I hope that the dedicated lines of the two countries will coordinate this.” Earlier, the two sides agreed to establish a bilateral Korea-Brazil working group, to be headed respectively by Chief Kim and Brazil’s Vice President Geraldo Alckmin.

The event was attended by Vice President Alckmin, Hyundai Motor Chairman Chung Eui-sun, POSCO Chairman Jang In-hwa, and Korean Air Chairman Cho Won-tae, among others. When asked by reporters about the prospect that “Hyundai Motor is likely to achieve annual sales of 200,000 units in Brazil for the third consecutive year,” Chairman Chung replied, “There is still a long way to go. China is also making a strong push into the market these days.”

On the same day, the presidential office released a Korea-Brazil joint statement agreed upon at the summit between President Lee and President Luiz Inácio Lula da Silva. Chief Presidential Spokesperson Kang Yu-jung, referring to the inclusion of cooperation on strategic critical minerals, including rare earths, in the joint statement, explained, “It is significant in that it emphasizes building a resilient and diversified supply chain for critical minerals, as well as shared prosperity through local processing and value-added creation.” Brazil has the world’s second-largest reserves of rare earths.

● Lee visits Lula’s metalworkers’ union office

President Lee also visited the headquarters of the metalworkers’ union in São Paulo, a site where President Lula was active in the past and which is regarded as a symbol of his political career. Sitting at the desk where President Lula once worked, he posed for a commemorative photo in the same posture as in an old photograph of Lula. When Union Chairman Wellington Damasceno asked President Lee what work he had done before becoming a lawyer, Lee replied, “I made watches,” revealing that, like Lula, he had started his career as a child laborer in a factory. Immediately after the visit, President Lee wrote on X (formerly Twitter), “The task of creating a world where labor is respected is no different in Brazil and in the Republic of Korea.”

At a luncheon meeting with the Korean community in São Paulo, President Lee said, “In fact, since taking office, I have been making quite a few overseas trips,” adding, “Meetings between heads of state greatly contribute to economic and security cooperation and to private-sector exchanges.” He also relayed President Lula’s remark that “In this world, the only presidents with work experience as laborers are you and me,” and added, “When he (President Lula) served two previous terms, the Brazilian economy grew rapidly.”

Popular News