President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva clasp hands during an expanded summit meeting at Cheong Wa Dae in central Seoul, Monday. Yonhap
Korea and Brazil agreed to strengthen cooperation in critical minerals, including rare earth elements, the leaders of both countries announced following their summit in Seoul on Monday.
President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva also decided to elevate the bilateral ties to a strategic partnership.
Speaking at a joint press conference following their summit, they said they adopted a four-year action plan.
“We will expand bilateral cooperation across a wide range of areas, including critical minerals, the environment, the space industry, culture, and small and medium-sized enterprises,” Lee said, explaining that the four-year plan would serve as a blueprint for advancing these efforts.
Specifically, the two countries signed 10 memorandums of understanding to enhance cooperation in critical minerals, artificial intelligence, broader economic and industrial sectors, science, public health, and public security.
President Lee Jae Myung speaks at an expanded summit meeting with Brazilian President Luiz Inacio Lula da Silva at Cheong Wa Dae in central Seoul, Monday. Yonhap
Lula underscored the importance of bilateral relations in these areas.
“Brazil possesses the world’s largest reserves of freshwater and rare earth elements. It ranks second in rare earth reserves and third in nickel reserves globally. We hope to attract investment from Korean companies in the critical minerals sector,” he noted during the summit, according to the Korean presidential office.
Lula went on to reiterate that Brazil would seek cooperation with Korean firms in other areas as well, including climate, semiconductors, the space industry and the defense sector.
Source: Korea Times News
