South Korea, Brazil agree to expand cooperation in key minerals, trade

[SEOUL] South Korean President Lee Jae-myung held summit talks in Seoul on Monday (Feb 23) with Brazilian President Luiz Inacio Lula da Silva. During the talks, they agreed to expand cooperation in sectors including trade, key minerals, technology and culture.

Lee said that the leaders planned to elevate the bilateral relationship into a strategic partnership, and for the countries to work together to support stability on the Korean Peninsula.

“Peace, built on conditions where conflict isn’t needed, is the strongest form of security,” the South Korean president added.

The leaders oversaw the signing of 10 memorandums of understanding (MOUs) spanning trade and industrial policy, core minerals, digital economy including artificial intelligence, 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 that Brazil holds large rare-earth reserves and has substantial nickel deposits, and that his government hoped to attract investment from South Korean companies.

In a message posted to social media platform X on Monday, Lee welcomed Lula, who was in Seoul for his first state visit in 21 years, pointing out the similarities in their backgrounds.

Lee wrote: “As a former child labourer, you proved with your whole life that democracy is the most powerful tool for social and economic progress.

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“I support your life, your struggle and your achievements, which will remain forever in the history of global democracy.”

The leaders, who first met at the Group of Seven summit in Canada in 2025 and later at the Group of 20 summit in South Africa, appeared to have bonded over their shared experiences of childhood factory work and workplace injuries.

The talks took place in South Korea’s presidential Blue House, the first large-scale official welcome ceremony to be held since Lee moved his office back to the building.

A state banquet is scheduled for Monday evening, where barbecue dishes and Brazilian bossa nova pieces are due to be performed by a Korean jazz band alongside a children’s choir, Lee’s office said. REUTERS