President Lee Jae Myung on July 28 speaks at a bilateral business roundtable at a hotel in Sao Paulo, Brazil.

By Hong Angie
Photos = Cheong Wa Dae

President Lee Jae Myung has outlined plans to expand bilateral cooperation with Brazil in cutting-edge and core industries at a business roundtable in Sao Paolo.

As part of his state visit to Brazil, the chief executive on July 28 named three key areas as pillars of future bilateral growth: joint development of next-generation commercial aircraft, supply chain cooperation in critical minerals, and expansion of Korean cosmetics and beauty on the Brazilian market.

Hailing the discussion of future bilateral cooperation in Sao Paulo, the economic heart of South America, President Lee said that if Korean and Brazilian business leaders join forces, both countries can grow together as leading aircraft manufacturers, key partners in supply chain cooperation and leaders of the global beauty market.

He proposed combining Korea's outstanding technological and manufacturing capabilities with Brazil's world-class expertise in producing small and midsize commercial aircraft to have both countries jointly lead the global aviation market.

Turning to natural resources and energy, the president said Brazil is rich in nickel and iron ore, resources crucial for high-tech industries, and leads the markets for clean energy and bioethanol. By combining Korea's innovative technologies with Brazil's abundant resources, he added, both sides can become ideal partners in building stable supply chains.

Highlighting the growing popularity of Korean cosmetics and beauty in Brazil, President Lee stressed the need to expand bilateral trade, saying bilateral trade volume was disappointing given the tremendous upside for cooperation in the sector.

He urged greater bilateral corporate collaboration given rising global uncertainty over the artificial intelligence (AI) revolution and restructuring of global supply chains, saying a partnership utilizing each other's strengths to create synergy is more important than ever.

President Lee on July 28 attends a bilateral business roundtable at a hotel in Sao Paulo, Brazil.

President Lee on July 29 arrived in Chile on the next leg of his overseas trip as the first Korean head of state to visit that country in 11 years. He is expected to elevate economic cooperation with Chile, Korea's first free trade partner, in sectors like critical minerals and energy supply chains.

Seoul and Santiago will also resume high-level dialogue on pragmatic cooperation in sectors like the defense industry and infrastructure, and plan to hold a bilateral business roundtable on collaboration in a range of future areas like AI and clean energy.

shong9412@korea.kr