Seoul, February 23: South Korean and Brazilian business leaders have proposed a new roadmap to deepen bilateral cooperation in advanced manufacturing, strategic minerals, agriculture, and lifestyle industries during a high-level business forum in Seoul.
The proposals were presented at the Korea-Brazil Business Forum, organized on the occasion of Brazilian President Luiz Inacio Lula da Silva’s three-day state visit to South Korea. The event brought together leading industry representatives from both nations to explore expanded economic engagement.
Business Leaders Call for Investment-Led Partnership
The Federation of Korean Industries and the Brazilian Trade and Investment Promotion Agency jointly outlined measures aimed at strengthening economic collaboration beyond traditional trade ties.Speaking at the forum, FKI Chairman Ryu Jin highlighted Brazil’s growing strategic importance in global supply chains.
He said Brazil is a resource powerhouse with strong competitiveness in food, energy, and aerospace, and holds significant value in global supply networks. He emphasized that the two countries should transition from trade-centered cooperation to a new phase focused on investment and industrial collaboration to achieve shared prosperity.
Three Core Areas Identified for Cooperation
During the event, business representatives from both sides presented President Lula with proposals centered on three primary sectors:Lifestyle and Cultural Industries
Participants discussed leveraging the strong popularity of Korean entertainment in South America to strengthen cultural and lifestyle ties. They also explored opportunities to integrate Brazil’s abundant cosmetic raw materials with South Korea’s established beauty ecosystem.Agriculture and Food Processing
In agriculture, officials examined ways to combine Brazil’s large-scale food production capacity with South Korean companies’ strengths in processing, distribution, and branding. The approach aims to create value-added supply chains benefiting both economies.Advanced Manufacturing and Strategic Sectors
Business leaders also discussed aligning Brazil’s resource strengths with South Korea’s manufacturing competitiveness. The focus includes expanding cooperation beyond traditional industries into advanced sectors, including artificial intelligence and strategic minerals.The Federation of Korean Industries noted that discussions covered the potential for joint initiatives in AI and key mineral supply chains, reflecting a shared interest in strengthening industrial resilience.
Longstanding Diplomatic and Trade Relationship
South Korea and Brazil established diplomatic ties in 1959. Over the decades, Brazil has emerged as South Korea’s largest trading partner in South America.According to the report, around 300 Brazilian business officials accompanied President Lula during his first state visit to Asia’s fourth-largest economy in 21 years, underscoring the scale and significance of the engagement.
The forum signals a renewed push to diversify and modernize bilateral economic ties, with both sides looking to build a broader, investment-driven partnership anchored in strategic industries.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.