"Lula at the Brazil–Republic of Korea Business Forum: “Strong human ties and business links are proof that trust and cooperation are worthwhile”

President Luiz Inácio Lula da Silva took part this Monday, February 23, in the closing ceremony of the Brazil–Republic of Korea Business Forum, in Seoul, and signaled the intention to advance several trade partnerships with the Republic of Korea. The meeting brought together authorities from both countries, business leaders from 230 corporations, and representatives of strategic sectors such as the creative economy, technology, food, sugar, ethanol, the pharmaceutical industry, and, especially, agriculture and livestock, to discuss challenges and opportunities in these areas.

“My trip to Seoul would not be complete without taking part in this business forum. It is symbolic that our countries are now led by two Presidents who come from working-class backgrounds. The permanent dialogue among governments, workers, and employers is the main pillar of a strong and inclusive economy,” the Brazilian leader stressed, adding that rest and productivity can coexist in economic activity. “In Brazil, we are discussing ending the so-called six-day-on, one-day-off work schedule, to ensure that workers have two days of rest per week. Technology has enabled us to reach previously unimaginable levels of productivity. It is time to think about people’s well-being,” he added.

» Speech by President Lula at the Brazil–Republic of Korea Business Forum

The relationship between Brazil and the Republic of Korea, two countries bound by strong human ties and business links, is proof that trust and cooperation are worthwhile. I am certain that this forum has generated many business opportunities that will contribute to building a prosperous future for Brazilians and Koreans”

Luiz Inácio Lula da Silva,
president of the Republic of Brazil

For President Lula, the best response to attempts to use trade as a weapon is to demonstrate that it is possible to reach mutually beneficial understandings through dialogue and negotiation. “The relationship between Brazil and the Republic of Korea, two countries bound by strong human ties and business links, is proof that trust and cooperation are worthwhile. I am certain that this forum has generated many business opportunities that will contribute to building a prosperous future for Brazilians and Koreans,” the President stated.

BEEF — The competitiveness of Brazilian agribusiness in meat and protein production was one of the national strengths highlighted by President Lula. “In recent years, Brazil has consolidated its position as the breadbasket of the world. In 2025, we recorded the largest harvest in our history, with 350 million tons of grain. We are an agricultural powerhouse, and we take pride in contributing to global food security.”

President Lula made explicit Brazil’s intention to enter the Korean beef market. “Bulgogi, the traditional Korean barbecue, pairs well with high-quality beef such as Brazil’s. We are ready to advance the necessary sanitary procedures so that Brazilian beef can be served on the plates of Korean citizens,” he assured. “This will also allow the world’s largest meatpacking companies, which are Brazilian, to establish operations and invest here in the Republic of Korea,” he added.

DIVERSIFICATION – At the same time, the President underscored the need for greater economic diversification in Brazil. “A country’s resilience, especially in times of global turbulence and the return of protectionism, depends on diversifying its economic base and its trade partnerships. We see the Republic of Korea as a strategic partner in achieving these two objectives,” he stated.

In his speech, the Brazilian leader noted that the consolidated presence of Korean companies in Brazil demonstrates the favorable environment the country offers to other sectors. “Brazil has for years been the leading destination for Korean investment in Latin America. Companies such as Samsung, Hyundai, and LG are present in Brazilian households. The Republic of Korea is already the fourth-largest Asian investor in the country, with an investment stock of nine billion dollars. This volume has the potential to grow,” he emphasized.

POLICIES AND PROGRAMS — President Lula also cited public policies implemented under his administration that encourage foreign companies to invest in Brazil and create a favorable environment for new investment. “Over the past three years, Brazil has launched important initiatives such as the Growth Acceleration Program (Programa de Aceleração de Crescimento / PAC), the New Industry Brazil Program (Programa Nova Indústria Brasil / NIB), the Green Mobility and Innovation Program (Programa Mobilidade Verde e Inovação / MOVER), and the Ecological Transformation Plan. All of them offer favorable conditions for foreign investors interested in bringing technological innovation and sustainable solutions. We provide legal certainty and economic, political, and social stability,” he said.

MINING — Lula also highlighted the opportunity for mutually beneficial cooperation in the exploration of critical minerals. “The Republic of Korea is the world’s second-largest producer of semiconductors and holds a significant share of the battery market. Brazil possesses critical minerals that are essential inputs for the production chains of electronics and electric vehicles. We are a reliable partner at a time when arbitrariness is becoming the rule. The role of mere exporters of raw materials does not reflect our potential. We seek partnerships that allow us to add value and produce cutting-edge technology on Brazilian soil,” he stated.

LEARNING — President Lula also pointed to the similarities and contrasts in the development paths of the two countries and how Brazil can learn from the experience of the Republic of Korea. “Brazil has much to learn from the Republic of Korea. In the 1960s, Korean GDP per capita was less than half that of Brazil. Today, it is three times higher. Until the 1980s, Brazil’s industrial output was greater than that of Korea. Today, the Republic of Korea is one of the world’s leading technological hubs. In the 1990s, while Brazil embraced the neoliberal policy agenda, Korea continued to rely on the State’s guiding role in strategic sectors,” Lula observed.

“No country that entered the industrial race late has managed to climb the development ladder without robust public policies. The Korean experience proves that raising the population’s level of education is a valuable investment. It also demonstrates that sustained growth depends on a diversified and sophisticated economy capable of absorbing skilled labor,” he stressed.

PHARMACEUTICALS – Regarding the pharmaceutical industry, Lula highlighted the sector’s synergies and the results that investment can yield. “The Republic of Korea has been expanding its research and development in the field of health. Brazil is advancing in the construction of its Órion biosafety laboratory, the only one in the world connected to a particle accelerator. This will enable us to seek solutions for diseases, develop diagnostic methods, and prevent epidemics. Public health institutions, such as Fiocruz and other Brazilian state foundations, are strengthening their cooperation with the Republic of Korea.”

“We hope that, in the near future, we will be able to jointly manufacture new vaccines, pharmaceuticals, and medical supplies,” he added.

AEROSPACE SECTOR – The continued advancement of the Republic of Korea’s aerospace sector was cited by President Lula as an example of the potential for cooperation. “Together, we can achieve significant scientific breakthroughs. The Korean start-up Innospace is helping transform the Alcântara Launch Center into a new aerospace hub. I am certain that Brazil will soon have the privilege of seeing a Korean rocket in full operation. Dialogue between our space agencies is crucial to deepening this collaboration, including in the sharing of satellite data and in lunar exploration projects.”

APEXBRASIL — Lula also underscored the expansion of the Brazilian Trade and Investment Promotion Agency (Agência Brasileira de Promoção de Exportações e Investimentos, ApexBrasil), which inaugurated an office during the presidential mission to New Delhi, India, and has identified opportunities for Brazilian products in the Republic of Korea, ranging from food and beverages to chemical products.

“Trade between Brazil and the Republic of Korea amounts to around eleven billion dollars. We are below the record of nearly 15 billion registered in 2011. The current level of exchange does not reflect the scale of the Brazilian and Korean economies. For this reason, we have signed an agreement on trade cooperation and productive integration, focused on strengthening industrial, technological, and agricultural cooperation. The Agreement will also reinforce resilient and secure supply chains and bring innovation to strategic minerals, sustainable industries, and the audiovisual sector. Our ministries will begin meeting regularly to discuss ways to strengthen economic relations.”

Currently, ApexBrasil maintains offices in Bogotá (Colombia), Miami (United States), San Francisco (United States), New York (United States), Brussels (Belgium), Lisbon (Portugal), Moscow (Russia), Dubai (United Arab Emirates), Beijing (China), and Shanghai (China). The office in New Delhi will be the Agency’s 11th international office, in addition to its representations in South Africa, Nigeria, Singapore, Shenzhen (China), and Washington, D.C. (United States).