South Korea, Brazil Sign 7 MoUs on Critical Minerals, Space; Lee Jae-myung and Lula Show Close Ties With Finger Hearts

[Anchor]

President Lee Jae-myung, currently on a tour of South America, held a summit with Brazilian President Luiz Inácio Lula da Silva. The two leaders agreed to resume trade agreement negotiations between South Korea and Mercosur, the South American trade bloc, and pledged to strengthen cooperation on supply chains for rare earths and other materials.

Reporting from São Paulo, this is Kang Cheongwan.

[Reporter]

President Lee Jae-myung arrived in Brazil for a state visit, marking the first time a South Korean president has done so in 11 years.

Escorted by an honor guard on horseback, he embraced Brazilian President Lula da Silva and exchanged greetings.

This marks their fourth meeting since President Lee took office, and the two leaders bonded over their shared personal histories as former child laborers.

[President Lee Jae-myung : Just as the president is missing a finger on his left hand, I too injured my left hand while working in a factory during my childhood.]

[Lula da Silva / President of Brazil : People who suffered hardships in their youth cherish every single opportunity. Both you and I grew up in very difficult circumstances.]

The core agenda of the two-hour summit was economic cooperation.

The two leaders agreed to resume negotiations by the end of this year for a trade agreement between South Korea and Mercosur, the South American economic community, which had been suspended since 2021.

[President Lee Jae-myung : We deeply shared the view that a trade agreement between South Korea and Mercosur is an important task that can no longer be delayed.]

Seven memorandums of understanding (MoUs) were also signed, including strengthening cooperation on critical mineral supply chains with Brazil, the world's second-largest holder of rare earth reserves, and streamlining procedures for South Korean companies to use Brazilian space launch facilities.

Following the summit, the two leaders displayed their close bond by making "finger hearts."

Having concluded the summit with President Lula, President Lee will attend a South Korea-Brazil business event in São Paulo, the economic hub of Brazil.

(Photo: Yonhap News)
(Reported by Jeong Sang-bo | Video by Wee Won-yang)
※ Please note: This article was translated by AI and may contain errors.