South Korean President Lee Jae Myung launched a four-day tour across Latin America, starting in Brazil on Sunday. Furthermore, the visit aims to strengthen diplomatic ties and diversify supply chains amid shifting global trade patterns. Speaking from Brasilia, Lee emphasized that broadening diplomatic networks remains essential for the nation’s long-term stability. Consequently, he described the region as one of the most important areas for expanding South Korea’s global reach.
Meanwhile, a summit with Brazilian President Luiz Inacio Lula da Silva anchors the visit, marking their fifth meeting overall. The two leaders had previously met during Lula’s state visit to South Korea earlier this year. Additionally, they crossed paths at three multilateral summits, including gatherings hosted by the G7 and G20. In an interview with a Brazilian newspaper, Lee stressed cooperation through the World Trade Organization and multilateral trade rules. Therefore, he urged renewed progress on the long-stalled Korea-Mercosur trade agreement involving Brazil, Argentina, Uruguay and Paraguay. Nevertheless, Lee emphasized that a balanced outcome matters more than rushing toward a fixed negotiation deadline.
Upon landing in Brasilia, Lee inspected a newly purchased C-390 military transport aircraft from Brazil’s Embraer. This acquisition marks South Korea’s first defense purchase from a Brazilian manufacturer, deepening bilateral security cooperation further.
Overall, Brazil, Chile and Argentina together form a combined market of nearly 280 million consumers worldwide. Their combined economy reaches roughly 3.7 trillion dollars, ranking among the world’s largest economic blocs. Moreover, these nations hold vast reserves of copper, lithium, rare earths and other critical resources. As a result, Latin America offers valuable opportunities for diversifying supply chains away from traditional partners.
Following Brazil, Lee will travel to Chile and Argentina to discuss modernizing existing trade agreements. Ultimately, officials expect the tour to expand exports and strengthen Korean corporate presence across Latin America.
