President Lee Jae Myung said Tuesday at a business roundtable in Sao Paulo that South Korea and Brazil have significant potential to expand economic cooperation in aircraft, critical minerals and cosmetics.
President Lee Jae Myung said at the event that considering the sizes of the two countries' economies, the potential for bilateral economic cooperation is very significant. He stressed, "If South Korea's unrivaled innovative technology and manufacturing prowess combine with Brazil's abundant resources, our countries could advance as optimal partners leading stable supply chains and future industries."
The roundtable was attended by leaders from Hyundai Motor Group and Korean Air, Industry Minister Kim Jung-kwan, Brazilian Vice President Geraldo Alckmin and Brazilian business leaders. Seven memorandums of understanding were signed between Korean and Brazilian companies, including one to strengthen the strategic partnership between Korea Aerospace Industries and Embraer.
Lee held a summit with Brazilian President Luiz Inacio Lula da Silva the previous day. Presidential chief of staff for policy Kim Yong-beom said the leaders designated him and Vice President Alckmin to oversee implementation of bilateral economic cooperation.
