“The leaders plan to elevate the bilateral relationship into a strategic partnership, and for the countries to work together to support stability on the Korean Peninsula, Lee said.”
“The leaders oversaw the signing of 10 memorandums of understanding spanning trade and industrial policy, core minerals, digital economy including AI, agriculture, health and biotech, small-business exchanges and joint policing against cybercrime, narcotics and other transnational threats.”
“In earlier remarks, Lee said they 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 Brazil holds the world’s second largest rare-earth reserves and has substantial nickel deposits, and that his government hoped to attract investment from South Korean companies.”
“The leaders also agreed on a need to resume talks to conclude a trade agreement between South Korea and the Mercosur [Southern Common Market] trade bloc, according to the action plan released by Lee’s office. Negotiations began in 2018 but were suspended over disagreements on protection for agricultural and manufactured goods.”