South Korea and Brazil have agreed to deepen their economic partnership focusing on trade critical minerals and broader strategic cooperation following a summit between South Korean President Lee Jae Myung and Brazilian President Luiz Inácio Lula da Silva in Seoul. The leaders said they aim to elevate bilateral relations to a strategic partnership and adopt a comprehensive plan spanning multiple sectors.
At the center of agreements is cooperation on key minerals and trade with both countries signing 10 memorandums of understanding covering areas including core minerals digital economy technologies like AI agriculture health and biotech. The collaboration on critical minerals including rare earths and nickel is particularly significant as Brazil’s abundant resources could support South Korea’s manufacturing and high‑tech industries.
Officials also adopted a four‑year action plan to expand cooperation from minerals and trade into strategic sectors such as defence space food security and energy while boosting people‑to‑people exchanges and cultural ties. President Lee said the framework will help broaden economic cooperation horizons while President Lula highlighted opportunities for Brazil to attract investment from Korean companies in mineral extraction and related industries.
Beyond minerals and trade the leaders agreed to set up high‑level dialogues on macro‑economic policy coordination agriculture technology and energy transition and to pursue joint initiatives that reflect their shared interests on global and regional issues including efforts to support international stability.
The summit marks Lula’s first state visit to South Korea in 21 years underscoring a renewed drive to deepen ties between two major economies and capitals in Asia and Latin America as both sides look to expand commercial technological and strategic cooperation in an increasingly competitive global landscape.
