Brazil and Next-Generation Commercial Aircraft Development... Hyundai Motor Company to Cooperate on Green Hydrogen and SMR

President Lee Jae-myung, who is on a state visit to Brazil, stressed the need to expand economic exchanges between Korea and Brazil on the 28th (local time). In particular, he said, "I expect major results in three areas going forward: joint development of next-generation commercial aircraft, supply chain cooperation in critical minerals, and K-beauty." He singled out aircraft manufacturing, critical mineral supply chains, and the beauty industry as the three key areas of cooperation between the two countries.
At the Korea-Brazil business roundtable in São Paulo, President Lee said, "If business leaders from both countries join forces, Korea and Brazil can grow together into aircraft manufacturing powerhouses that will lead the global aviation market, important partners in supply chain cooperation, and ultimately leaders in the global beauty market." More than 40 business leaders from both countries attended the event. President Lee personally attended, and Vice President Geraldo Alckmin also joined on the Brazilian side, underscoring a strong commitment to expanding economic cooperation between the two countries.
During his state visit to Brazil, President Lee repeatedly expressed expectations for cooperation in aircraft manufacturing. Earlier, shortly after arriving in Brazil, he toured the C-390 transport aircraft produced by Embraer and scheduled to be delivered to the Korean military, saying, "If possible, let's make commercial aircraft together in the future." Embraer is one of the world's top three commercial aircraft manufacturers.
On the day, companies from the two countries signed seven memorandums of understanding (MOUs). Korea Aerospace Industries (KAI) also signed an aerospace MOU with Embraer, one of the world's top three commercial aircraft manufacturers. Kim Jong-chul, president of KAI, said, "We have been supplying commercial aircraft wing structures and electric vertical takeoff and landing aircraft structures to Embraer," and added, "We want to build a strategic partnership that shares technology and risk, not just a one-off production relationship."
Korean Air Chairman Cho Won-tae emphasized, "We opened the first route from Asia to São Paulo and have long cooperated with Embraer by supplying aircraft fuselage parts, so we will serve as a bridge to help exchanges between the two countries."
Hyundai Motor Group Chairman Chung Eui-sun said, "In line with Brazil's eco-friendly policies, such as the MOVER decarbonization policy, the National Hydrogen Program, and the National Energy Plan, we plan to pursue technological cooperation with Brazil on Green Hydrogen production, the introduction of hydrogen trucks, and Small Modular Reactor (SMR) technology." When asked about Hyundai's sales outlook in Brazil during a meeting with the presidential press corps, Chung said, "There is still a long way to go," expressing his determination to expand the market. He also noted, "China is pushing hard these days," signaling caution over the aggressive advance of Chinese automakers such as BYD into the South American market, while indicating his intention to further strengthen Hyundai's position in Brazil.
President Lee stressed that accelerating discussions on the Korea-MERCOSUR trade agreement is important for increasing trade and investment. However, issues that still need to be coordinated remain, including the opening of agricultural and livestock products.
Meanwhile, President Lee made a special gesture of affection by visiting the São Paulo Metal Workers' Union headquarters, the starting point of Brazilian President Luiz Inácio Lula da Silva's political career, even though it had not been on his original schedule. After completing all of his state visit events in Brazil, President Lee will continue summit talks in Chile.
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