The governments of Brazil and South Korea announced the creation of a working group aimed at advancing talks between South Korea and Mercosur – the economic bloc comprising Brazil, Argentina, Paraguay, and Uruguay, as well as other associate countries.

“We have decided to create a working group that will identify sensitivities on both sides and prevent them from becoming an obstacle to the resumption of negotiations on a Mercosur agreement with South Korea,” Brazilian President Luiz Inácio Lula da Silva told the press Monday (Jul. 27), after welcoming South Korean President Lee Jae-Myung at the Alvorada presidential palace.

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The group will be coordinated by vice-President Geraldo Alckmin, Lula reported.

The South Korean president also highlighted the possibility of an agreement with Mercosur. In his view, the agreement will be beneficial both for his country’s industry and for Brazil in the Asian market as a whole.

The Asian leader cited “trade uncertainties” when discussing the agreement. Currently, Brazil is experiencing trade tensions with the US—one of its largest trading partners—due to tariffs imposed by the North American country. In this context, Jae-Myung stated that the partnership between Brazil and South Korea is urgent.

“At a time when there is so much uncertainty in the trade arena, the agreement between Brazil and Korea can no longer wait. It is needed now. We believe that the agreement between Mercosur and Korea will provide Korean companies with a greater opportunity to enter the South American market and bring a new perspective to the Asian market for Brazil, via Korea.”

The two countries signed trade deals in various areas, such as defense, education, and energy. Lula and Jae-Myung discussed critical minerals, and the South Korean president highlighted Brazil’s supply of this resource.

“As is well known, Brazil is one of the leading holders of critical minerals. And today, President Lula and I agreed to expand cooperation across the entire life cycle of critical minerals within the supply chain for these minerals. Through this agreement, we will create a stable supply base, strengthening mutual cooperation in a beneficial way.”

The South Korean president will also travel to São Paulo, where he is scheduled to visit a metalworkers’ union. Brazil is the country in Latin America that hosts the largest number of Koreans. And São Paulo is home to the largest Korean community in the country, with more than 50,000 people.

Further pacts

An accord was also signed to facilitate the exchange of experiences in educational policies and to foster closer ties between educational institutions in both countries.

In addition, Brazil and South Korea signed a memorandum of understanding to establish cooperation between agencies for the exploration and undertaking of peaceful space activities.

In science and technology, an agreement was signed to promote cooperation in research, development, and innovation applied to the industrial sector.

In the area of sports, an agreement was signed to facilitate exchanges between athletes and experts, as well as to share experiences in public policy.

Sovereignty and Peace

In their statements, both heads of state expressed support for the peaceful resolution of conflicts. While Lula spoke of defending democracy in the face of attacks by extremists, Jae-Myung emphasized the importance of establishing peace.

“We have both known how to defend our democracies against attacks by extremist groups. We will continue to build a world governed by dialogue, respect among nations, and the strengthening of multilateralism,” Lula declared.

“I reiterate the Korean government’s strong belief that peace is essential for our security – without the need for conflict or war. And President Lula agrees with us on this point,” the South Korean leader stated.