President Lee and Lula: 'Korea-Mercosur trade deal can no longer be delayed'

South Korean President Lee Jae-myung and Brazilian President Luiz Inácio Lula da Silva have declared that a trade agreement between South Korea and the Mercosur bloc is a critical and urgent task. During a state visit to Brazil, President Lee emphasized that the 'Korea-Mercosur FTA' will expand opportunities for South Korean companies in the South American market and offer Brazilian firms a new gateway to Asia through South Korea. The leaders met at the 'Alvorada Palace' in Brasília, aiming to deepen their strategic partnership.

Beyond trade, the two nations agreed to bolster cooperation in strategic areas such as supply chain diversification for critical minerals and energy. President Lee highlighted Brazil's significant reserves of critical minerals, noting that both leaders agreed on the necessity of expanding cooperation across the entire supply chain. They also committed to strengthening collaboration in defense, planning to launch a joint defense committee and pursue an agreement on the protection and exchange of military secrets.

President Lee also drew parallels between his own life and President Lula's, both having experienced hardship in their youth. Lee shared his experience of injuring his left arm while working in a factory, stating it fuels his commitment to improving the lives of many. He expressed a desire to visit the metalworkers' union office where Lula once worked, underscoring a shared identity as former laborers dedicated to enhancing people's lives. The leaders concluded their meeting by exchanging a 'finger heart' gesture for the press and signing seven Memoranda of Understanding covering space, sports, education, energy, and industrial technology.