[Edaily Reporter Choi Oh-hyun ] Business leaders from South Korea and Brazil have agreed to expand cooperation across a wide range of strategic industries, from critical mineral supply chains to artificial intelligence (AI), biotechnology, aerospace, and K-Beauty. The plan is to combine Brazil’s abundant resources and massive domestic market with South Korea’s manufacturing competitiveness to jointly target global markets.

The Korea Economic Association (KEA) announced that it co-hosted the “Korea-Brazil Business Roundtable (BRT)” with ApexBrasil, Brazil’s trade and investment promotion agency, on the 28th (local time) in São Paulo, Brazil.

This event was organized in conjunction with the Brazilian state visit, which served as a reciprocal visit following President Luiz Inácio Lula da Silva’s visit to South Korea last February. At that time, the leaders of both countries agreed to elevate Korea-Brazil relations to a “strategic partnership.”

Representing South Korea were Minister of Trade, Industry and Energy Kim Jeong-kwan, as well as Ryu Jin, Chairman of the Korea Economic Association; Chung Eui-sun, Chairman of HyundaiMotor Group; Jang In-hwa, Chairman of POSCO Holdings; and Cho Won-tae, Chairman of HANJIN Logistics Corporation. Senior executives from major companies were also in attendance, including Park Seung-hee, President of SamsungElectronics; Ryu Jae-cheol, President of LGELECTRONICS; Lee Dong-hoon, President of SK BIOPHARMACEUTICALS; Jeong In-seop, President of Hanwha Ocean; Moon Jae-young, President of HD HYUNDAI Construction Equipment; Choi Soo-yeon, CEO of Naver; and Kim Jong-chul, President of KOREA AEROSPACE INDUSTRIES (KAI).

From Brazil, Vice President Geraldo Alckmin and Marcio Elias Hozza, Minister of Development, Industry, Trade, and Services (MDIC), were in attendance, along with CEOs from major companies such as Embraer—one of the world’s top three commercial aircraft manufacturers—JBS, the world’s largest meat processor, Suzano, the world’s largest pulp manufacturer, and Eurofarma, the largest pharmaceutical company in Latin America, were in attendance.

During the roundtable discussion, they explored cooperation strategies across three sectors: △manufacturing and infrastructure, △high-tech industries, and △consumer goods and distribution. In particular, they reached a consensus on the need to establish stable supply chains for critical minerals such as rare earths, streamline licensing procedures to facilitate market entry into Brazil, and resume negotiations on a trade agreement between South Korea and Mercosur. Korean beauty companies also presented a strategy to position Brazil as a key hub for penetrating the Latin American market.

Immediately following the event, a total of six memorandums of understanding (MOUs) were signed between Korean and Brazilian companies and institutions in sectors such as food, biohealth, and aerospace, with the ministers of industry from both countries in attendance.

Brazil, South America’s largest economy, is pursuing a resurgence in manufacturing based on its abundant mineral resources and a domestic market of approximately 200 million people. Kim Bong-man, Head of the International Division at the Korea Economic Association, emphasized, “More than 50% of the participants at this BRT Brazil event are from the manufacturing sector,” adding, “Brazil is no longer merely a sales channel for products or a source of raw materials, but a key strategic partner with whom we are jointly shaping the future of industry.”

Korea Economic Association Chairman Ryu Jin also stated, “Brazil, a leader in global supply chains, and Korea, with its expertise in advanced manufacturing and innovation, are indispensable to one another—this is an inevitable partnership,” adding, “I hope we can form a ‘single team’ spanning investment, production, and supply chain development between our two countries to advance into the global market.”