Lee calls for deeper Korea-Brazil partnership in aircraft, critical minerals, K-beauty
President Lee Jae Myung made the remarks during a Korea-Brazil business roundtable at a hotel in São Paulo as part of his state visit to the South American country.
President Lee Jae Myung speaks during the Korea-Brazil business roundtable at a hotel in São Paulo, Brazil, on July 28.NEWS1
SÃO PAULO, Brazil — President Lee Jae Myung, who is on a state visit to Brazil, called for deeper economic cooperation with the South American country in aircraft, critical minerals and cosmetics on Tuesday, saying the two nations could become “ideal partners.”
“If Korea’s unrivaled innovation and manufacturing capabilities join forces with Brazil’s abundant resources, our countries could emerge as ideal partners for building stable supply chains and lead future industries together,” Lee said during the Korea-Brazil business roundtable at a hotel in São Paulo.
Korea and Brazil previously elevated their bilateral ties to a strategic partnership in February.
“Brazil is already Korea’s largest trading partner in South America, and more Korean companies are expanding into the Brazilian market,” Lee said. “However, considering the size of our two economies, the current level of trade falls far short of its potential.”
“As global uncertainty grows, it is more important than ever to find partners that can create synergies by leveraging each other's strengths,” he added, pointing to rapid changes in the global economy, intensifying technological competition and the restructuring of global supply chains, all affected by the AI revolution.
He then identified three key areas for bilateral cooperation: next-generation commercial aircraft development, critical mineral supply chains and K-beauty.
“Brazil is a treasure trove of critical minerals such as nickel and iron ore, which are essential for advanced industries,” Lee said. “The country also possesses world-class capabilities in manufacturing small- and medium-sized commercial aircraft.”
President Lee Jae Myung, center, speaks during the Korea-Brazil business roundtable at a hotel in São Paulo, Brazil, on July 28.NEWS1
On the other hand, Korea is a global manufacturing powerhouse with strengths in AI, semiconductors, biotechnology, automobiles and steel, the president noted.
“If businesses from both countries join forces, Korea and Brazil can grow together to become an aircraft manufacturing powerhouse in the global aviation market, an important partner in supply chain cooperation and a leader in the global beauty industry,” he said.
Speaking on behalf of the Korean business community, The Federation of Korean Industries Chairman Ryu Jin described São Paulo as both an important city for Korean businesses and a place of personal significance.
“I first came [here] with my father 62 years ago and lived here for six months,” he said.
“[Korea and Brazil] are partners in shaping the future of energy,” Ryu continued. “Now, we must take our cooperation to the next level and advance together into future high-tech industries. I hope today’s meeting marks the launch of a Korea-Brazil ‘One Team.’”
Korean business leaders attending the event included Hyundai Motor Group Executive Chair Euisun Chung; Posco Holdings Chairman Chang In-hwa; Korean Air CEO Cho Won-tae; Samsung Electronics President Park Seung-hee; LG Electronics CEO Lyu Jae-cheol; SK Biopharmaceuticals CEO Lee Dong-hoon; Hanwha Ocean President Jung In-sub; HD Construction Equipment CEO Moon Jae-young; Naver CEO Choi Soo-yeon; and Korea Aerospace Industries President Kim Jong-chool.
Chief executives and senior executives from major companies — such as Embraer, Eurofarma, Stefanini, WEG, Tupy, Minerva Foods and Ambev — represented Brazil.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
