Lee arrives in São Paulo, seeks cooperation on critical minerals and supply chains with business leaders

[Financial News, Seoul and São Paulo, Brazil = Reporters Seong Seok-woo and Choi Jong-geun]President Lee Jae Myung, who is touring the United States and South America, arrived in São Paulo, Brazil, on the 27th local time. In São Paulo, he will continue his state visit to Brazil by attending a meeting with Korean residents and the Korea-Brazil business roundtable.
Lee arrived at Guarulhos International Airport in São Paulo on the day. Earlier, he held a series of meetings with CEOs of global big tech firms in San Francisco, United States, and announced the "San Francisco AI Declaration." Following that, Samsung Electronics and SK Group agreed to pursue long-term semiconductor supply cooperation worth a combined $950 billion with global big tech companies including Broadcom Inc. and NVIDIA.
During the San Francisco schedule, cooperation on investment in AI data centers was also fleshed out. Domestic companies and global big tech firms agreed to pursue investment cooperation for AI data centers on a scale of about 5 GW and roughly 2 million GPUs. Lee also met with six Silicon Valley venture capital firms to discuss ways to strengthen cooperation between the Korean and U.S. venture ecosystems.
Lee then moved to Brasília and held a summit with Brazilian President Luiz Inácio Lula da Silva, where they discussed ways to expand bilateral cooperation. Brazil is the leading country in MERCOSUR, the Southern Common Market, and this tour is focusing on key issues such as resuming negotiations on the Korea-MERCOSUR trade agreement and cooperation on critical mineral supply chains.
The São Paulo schedule is centered on economic diplomacy and outreach to the Korean community. Lee is expected to meet with local Koreans to hear their concerns and proposals, and attend the Korea-Brazil business roundtable to support expanded cooperation between companies from both countries.
An economic delegation is accompanying him on this South American tour. After Brazil, Lee plans to visit Chile and Argentina to discuss ways to diversify supply chains for critical minerals, food, and energy.
After completing his three-country tour of South America, Lee is scheduled to return home via Frankfurt am Main, Germany.
[email protected] Seong Seok-woo Choi Jong-geun Reporter