South Korea and Brazil Elevate Strategic Partnership, Pledge Korea-Mercosur FTA on 27 July

South Korean President Lee Jae-myung and Brazilian President Luis Inácio Lula da Silva met in Brasília on 27 July (local time), declaring 2026 the inaugural year for an elevated strategic partnership spanning supply chains and advanced industries. Lee emphasized that a Korea-Mercosur free trade agreement is no longer a deferrable priority, citing growing trade uncertainty.

The two leaders adopted a joint statement and agreed to expand cooperation across defense, aerospace, and semiconductors, with a Joint Defense Committee launching by year-end. Lee highlighted that Korean components are being integrated into Brazil's C-390 transport aircraft. Both nations also signed a space cooperation memorandum and pledged to strengthen collaboration on critical minerals supply chains, renewable energy transition, and international challenges including Korean Peninsula peace, artificial intelligence, and climate action.