President Lee Jae Myung arrived in Brazil on Sunday for a summit with Brazilian President Luiz Inácio Lula da Silva and a business roundtable.
President Lee Jae Myung arrived at the Brazilian Air Force's base in Brasília on Sunday. His state visit through Wednesday includes a summit with President Lula in the capital on Monday, followed by a business roundtable in São Paulo the next day.
On Sunday, during a virtual meeting with senior aides from Brasília, Lee instructed officials to maintain oil price caps until price uncertainty completely recedes due to renewed confrontation in the Middle East. "Amid the high likelihood that oil prices will remain volatile for some time, preemptive efforts should be made promptly to minimize their impact on domestic prices," he said.
The trip is part of Lee's three-nation South America tour, which will later take him to Chile and Argentina. In an interview with Spain's news agency EFE, the president stressed the need to resume negotiations for a free trade pact with Mercosur.
