Lee Jae Myung and Lula Agree on Korea-MERCOSUR Deal, Cooperation in Minerals, Defense, and Space

[Financial News, Brasília, Brazil = Choi Jong-geun Reporter]President Lee Jae Myung paid a state visit to Brazil on the 27th (local time) and held a summit with Brazilian President Luiz Inácio Lula da Silva. After the official welcome ceremony, Lee met Lula at the Alvorada Palace, the presidential residence, for a summit and then attended a series of state visit events, including a memorandum of understanding signing ceremony and a joint press statement. It was the first state visit by a Korean president to Brazil in 11 years, and it took place at Lula's invitation. This was the fifth meeting between Lee and Lula since Lee took office. Earlier this year, Lula paid a state visit to Korea in February, and the two met again in June on the sidelines of the G7 summit in France.
Lee and Lula held a small-group meeting followed by an expanded meeting for 140 minutes, from 11:08 a.m. to 1:28 p.m. local time. After the joint press statement, the two leaders made finger-heart gestures toward reporters to show their friendship. Referring to their shared background as former child laborers, Lee said, "I hope President Lula and I can continue working together without losing our identity as workers, striving constantly for a better life for more people."
At the joint press statement after the summit, Lee said, "Through today's talks, President Lula and I declared 2026 the first year of a leap in the Korea-Brazil strategic partnership, and by adopting a joint statement following the four-year action plan in February, we have further clarified the future vision for bilateral cooperation."
During the summit, Lee and Lula agreed to strengthen the economic foundation that drives the development of bilateral ties. Lee emphasized, "As the Economic and Trade Committee, a high-level platform for industrial and trade cooperation between our two countries, has already been activated ahead of the summit, we will expand cooperation in future industries such as defense, aerospace, critical minerals, and the digital economy, in addition to trade and investment."
He added that direct communication for the development of bilateral relations will continue, with the Brazilian vice president and Kim Yong-beom serving as key channels.
The two leaders also discussed issues related to the Korea-MERCOSUR trade agreement. Lee said, "We strongly agreed that in an era of growing uncertainty in the trade environment, a trade agreement between Korea and MERCOSUR can no longer be delayed." He added, "I am confident that a Korea-MERCOSUR trade agreement will expand opportunities for Korean companies to enter the Southern Common Market, while giving Brazilian companies new opportunities to use Korea as a base for entering the Asian market."
He explained that this would go beyond trade and create an important foundation for the two countries to move forward as true strategic partners by broadening cooperation into advanced industries, supply chains, and the digital and green economies.
Strategic cooperation in resources and energy will also be expanded to diversify supply chains. Lee said, "Brazil is a major holder of critical minerals. In today's talks, President Lula and I agreed on the need to expand cooperation across the entire critical minerals supply chain between our companies and institutions." He added, "Through follow-up consultations between relevant agencies, we will further strengthen mutually beneficial cooperation based on our respective strengths and build a stable raw material supply base for our companies."
   
The two sides also agreed to create new growth engines by expanding cooperation in advanced and future industries. Lee said, "The two countries have agreed to launch a joint defense committee in the second half of this year, and we will pursue an agreement on the protection and exchange of military and defense secret information to create new opportunities for cooperation in defense and the defense industry." He added, "In particular, the fact that parts made by Korean companies are installed in Brazil's C-390 transport aircraft, which the Republic of Korea Air Force will introduce in the second half of this year, is a symbolic example of defense cooperation between our two countries." He continued, "We have also agreed to further develop this cooperation and pursue collaboration in future air mobility by leveraging each other's strengths. I ask for your special interest and support so that our various defense systems, which have already proven their excellent performance, can also be recognized for their value in Brazil, the largest defense power in Latin America."
Earlier, after a welcome ceremony at Brasília Air Base, Lee inspected a Brazilian-made C-390 transport aircraft parked nearby and said, "This is highly meaningful as the first step in defense cooperation with Brazil," adding, "Let's create more cooperation in the future." The C-390 transport aircraft is manufactured by Embraer and three units will be delivered to the Republic of Korea Air Force. The project is worth 883.0 billion won. As a result, cooperation in aerospace is also expected to expand further.
Finally, Lee said, "Brazil has led nuclear disarmament in Latin America and has consistently supported a world without nuclear weapons and the peaceful resolution of conflicts." He added, "I would like to once again thank President Lula and the Brazilian government for their firm support today for our government's efforts toward denuclearization on the Korean Peninsula and the establishment of lasting peace."
Meanwhile, on the occasion of the summit, five memorandums of understanding were signed in the presence of Lee and Lula, and two additional MOUs were concluded separately.
First, Korea and Brazil signed an MOU on space cooperation. The agreement focuses on harmonizing and simplifying launch regulations, such as launch permit procedures, when Korean companies use Brazilian launch sites, as well as cooperation in lunar exploration and related scientific, technological, and commercial activities, the development of the space industry and economy, and the sharing of satellite data, including satellite images and video. It will improve the efficiency of launches by Korean private launch vehicles using Brazilian launch sites, while government-led cooperation in the space sector will support Korean companies' entry into Brazil's space market.
The two countries also signed MOUs on energy and industrial technology cooperation. Through the energy cooperation MOU, they will promote cooperation in renewable energy, power grids, smart grids, and energy efficiency to accelerate the energy transition. Through the industrial technology cooperation MOU, they will foster technological cooperation in seven areas that form the basis of supply chains: bioeconomy, sustainable fuels, industrial decarbonization, low-carbon and sustainable materials, and advanced strategic industries such as AI, semiconductors, automobiles, shipbuilding, and batteries.
They also signed an MOU on sports cooperation and a memorandum on education cooperation, including efforts to promote Korean language education in regular schools in Brazil. After the summit, they renewed an MOU on film cooperation and agreed through an MOU on cybersecurity cooperation to create a favorable environment for Korean security companies to enter the Brazilian and Latin American markets.


[email protected] Choi Jong-geun Reporter