"Cap on Oil Prices to Remain in Place"... Summit with Lula Tonight

<앵커>

President Lee Jae-myung has arrived in Brazil for a three-nation tour of South America following his trip to the United States. Presiding over a videoconference meeting of senior secretaries from Brazil, President Lee announced that the maximum price ceiling on oil will remain in place until anxieties over fuel prices are resolved.

[Reporter Kang Cheongwan]

<기자>

Arriving in the Brazilian capital of Brasília on a state visit, President Lee Jae-myung is welcomed by a Brazilian honor guard sounding trumpets.

President Lee immediately inspected a Brazilian-made military transport plane purchased by the South Korean Air Force as part of defense industry cooperation and encouraged the military personnel.

He also held a videoconference meeting with key presidential aides from Brasília.

Noting that international oil prices are fluctuating due to renewed instability in the Middle East, President Lee stated that the oil price ceiling system will be maintained.

[President Lee Jae-myung : Please maintain the maximum oil price ceiling system until the instability in oil prices is completely resolved, and continue to keep policy measures such as fuel tax cuts in place to the maximum extent possible.]

He also called on relevant authorities to continuously push forward support measures for truck and construction equipment drivers, while taking thorough precautions to crack down on market-disturbing activities, such as the recently uncovered price-fixing collusion among domestic refineries.

Reflecting on the AI declaration announced over the weekend in San Francisco, President Lee assessed that it served as a national declaration of intent for South Korea to leap forward as an irreplaceable AI leader.

[President Lee Jae-myung : We have elevated our partnerships with global big tech companies to the level of an 'artificial intelligence alliance' and further strengthened the foundation for cooperation with world-class venture capital firms.]

He added that South America, with its massive population and resources, is one of the most diplomatically essential regions for South Korea, and expressed his commitment to firmly solidify the nation's status and role as a core global country through this tour.

President Lee is scheduled to hold a summit with Brazilian President Lula tonight, Korean time (July 27).

(Video by Jeong Sang-bo | Video Editing by Jang Hyun-ki)
※ Please note: This article was translated by AI and may contain errors.