South Korea’s President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva met in Seoul for a summit where they agreed to enhance collaboration in trade, technology, key minerals, and culture. They aim to upgrade their ties to a strategic partnership to bolster stability on the Korean Peninsula, according to President Lee.
During a press conference, President Lee emphasized the importance of peace as the foundation for security, stating, “Peace, built on conditions where conflict isn’t needed, is the strongest form of security.”
The leaders oversaw the signing of 10 memorandums of understanding covering various areas such as trade, industrial policy, digital economy including AI, agriculture, health, biotech, small-business exchanges, and joint efforts against cybercrime, narcotics, and other transnational threats.
President Lee highlighted the adoption of a four-year action plan to outline specific measures for enhancing bilateral cooperation, focusing on strategic minerals, defense, space industries, and food security.
Brazil, the largest trading partner of South Korea in South America, boasts the world’s second-largest rare-earth reserves and significant nickel deposits. President Lula expressed Brazil’s interest in attracting investments from South Korean firms.