News
World
South Korea, Brazil agree to elevate bilateral ties to strategic partnership
Brazilian President Luiz Inacio Lula da Silva and his South Korean counterpart Lee Jae Myung on Monday agreed to elevate bilateral relations to a strategic partnership and expand cooperation in the economy, space, defense industry, critical minerals, and other areas, local media reported.
The two leaders held summit talks in Seoul and adopted a four-year action plan to boost relations in politics, economy, practical cooperation, and people-to-people exchanges, Yonhap News reported.
“I and President Lula shared the consensus that the two countries should expand mutually beneficial economic cooperation,” Lee said in a joint press stakeout after the summit.
The two sides signed 10 memoranda of understanding covering trade and investment, science and technology, agriculture, health care, small and medium-sized enterprises, food, and security.
Under the agreements, the foreign and industry ministries of the two countries agreed to launch a high-level economic and trade committee to discuss ways to facilitate cooperation in trade and investment, agriculture, energy, and artificial intelligence, among other areas.
The two finance ministries also agreed to establish a vice-ministerial economic and financial dialogue to coordinate macroeconomic policy and cooperation at the multilateral level.
Lee stressed that space is one of the promising sectors for cooperation, noting that South Korea’s first commercial orbital rocket, the Hanbit-Nano, attempted its first launch at the Alcantara Space Center in northeastern Brazil in December, and expressing hope for success on the next try.
He also underscored the need to deepen defense industry cooperation. In 2023, South Korea selected Embraer’s C-390 military transport aircraft, with Korean parts makers involved in the program.
Lula, for his part, highlighted Brazil’s huge natural resources and expressed hope of attracting Korean investment in critical minerals and expanding industrial cooperation in semiconductors, aerospace, and the defense industry.
The two nations, he said, need to discuss the green industry and energy transition, calling for South Korea’s participation in a global fund to preserve tropical rainforests that Brazil launched last year.
The two leaders also discussed international and regional issues as Lee explained Seoul’s efforts to resume dialogue with North Korea and promote peace on the Korean Peninsula.
“We shared the view that peace on the Korean Peninsula has far-reaching implications beyond Northeast Asia for global peace,” Lee said.
Lula, who arrived in South Korea on a three-day state visit on Sunday, attended a welcoming ceremony hosted by Lee in Seoul after paying his respects to veterans at the Seoul National Cemetery earlier in the day.
The Brazilian leader had visited South Korea during his first term in 2005.
Since establishing diplomatic ties in 1959, Brazil has become South Korea’s largest trading partner in South America.
In 2025, South Korea was Brazil’s fourth-largest trading partner in Asia and the fifth-largest destination for Brazilian exports to the region.
The total trade volume between the two countries stands at $10.8 billion, with a Brazilian surplus of $174 million.
South Korea is the 19th-largest investor in Brazil, with an estimated stock of $8.8 billion in 2024, according to Brazilian government statistics.
ANEWS
About the Author
