South Korea and Brazil Sign 7 MOUs on AI, Rare Earth, Aerospace During Presidential Visit on July 28

According to Yonhapinfomax, on July 28 (local time), South Korean President Lee Jae-myung held a business roundtable in São Paulo with over 40 executives from Korean companies including Hyundai Motor, Posco, Korean Air, Samsung Electronics, LG Electronics, Naver, and Hanwha Ocean, as well as Brazilian firms such as Embraer, Braskem, and Eurofarma. The two countries' companies signed a total of 7 MOUs focusing on aerospace, rare earth minerals, biotechnology, and artificial intelligence.

President Lee emphasized that bilateral trade volume of approximately $10 billion is surprisingly low and called for accelerating South Korea-Mercosur trade agreement negotiations. The two governments established a dedicated consultation platform to directly address regulatory and licensing issues faced by companies, with results to be reported directly to the leaders of both nations.