President Lee Jae Myung said Tuesday that South Korea and Brazil have significant potential to expand economic cooperation, citing aircraft, critical minerals and cosmetics as areas where the countries could achieve greater collaboration.
The South Korean president made the remarks at a business roundtable in Sao Paulo, which brought together leaders of major companies from both countries to explore joint business opportunities.
“Considering the sizes of the two countries’ economies, the potential for bilateral economic cooperation is very significant,” Lee said in his welcoming speech at the event. The president noted that despite the significant potential, bilateral trade volume remains relatively “very small.”
He cited the joint development of next-generation civil aircraft, critical mineral supply chains and Korean beauty products as areas where the two countries could achieve “big outcomes” through cooperation.
“The deepening technological hegemony, represented by the artificial intelligence revolution and shifting supply chains, is rapidly transforming global industries and the economic order,” the president said.
