Brazil and South Korea Deepen Strategic Partnership with 10 New Bilateral Agreements
Brazil and South Korea sign 10 cooperative agreements covering trade, technology, defense, and critical minerals, establishing a four-year plan for strengthened bilateral relations.
- • Brazil and South Korea signed 10 cooperation agreements in trade, technology, defense, agriculture, and critical minerals.
- • A four-year "2026-2029 Action Plan" was established to guide bilateral relations.
- • South Korea is Latin America's largest investor in Brazil, with $8.8 billion invested since 2024 and bilateral trade at $10.8 billion last year.
- • Brazilian tourism to South Korea increased by 25%, reflecting growing cultural ties.
Key details
Brazil and South Korea have solidified their strategic partnership with the signing of 10 cooperation agreements across multiple sectors including trade, technology, defense, agriculture, and critical minerals. The agreements, formalized on February 23, 2026, mark an important milestone in bilateral relations as both countries commit to a four-year "2026-2029 Action Plan" aimed at enhancing political, economic, and cultural ties.
Brazilian President Luiz Inácio Lula da Silva and South Korean President Lee Jae-myung announced the accords during Lula's visit to South Korea, which followed his trip to India and included participation in the Brazil-South Korea Business Forum. This visit signifies Lula's third to South Korea and his first state visit to strengthen diplomatic and economic cooperation.
The comprehensive agreements cover strategic areas such as technology—with emphases on artificial intelligence, semiconductors, and energy transition—defense, health, critical minerals, and agriculture. Lula highlighted South Korea as Latin America's leading investor in Brazil, with South Korean investments amounting to approximately $8.8 billion since 2024 and bilateral trade reaching $10.8 billion last year, favoring Brazil with a trade surplus.
Tourism from Brazil to South Korea has surged by 25%, reflecting growing cultural ties, with interest in K-pop and Korean beauty products expanding in Brazil. Discussions also included resuming the previously stalled Mercosur-South Korea trade negotiations, with Lee praising Brazil's role as a pivotal member of Mercosur.
These agreements and the four-year plan will serve as a roadmap to guide closer cooperation across political, economic, and technological fronts, aiming to diversify Brazil's economic partnerships in Asia and strengthen the bilateral relationship in a broad range of sectors.
This article was translated and synthesized from Brazilian sources, providing English-speaking readers with local perspectives.
Source articles (2)
Source comparison
Date of agreement signing
Sources report different dates for the signing of agreements.
g1.globo.com
"The signing of agreements occurred during a meeting at the G20 summit in November 2025."
poder360.com.br
"The presidents announced the signing of bilateral agreements on February 23, 2026."
Why this matters: One source states the agreements were signed during a meeting at the G20 summit in November 2025, while the other claims they were signed on February 23, 2026. This discrepancy affects the timeline of the events described.
Bilateral trade amount
Sources report different figures for bilateral trade between Brazil and South Korea.
g1.globo.com
"Bilateral trade amounted to $10.8 billion last year."
poder360.com.br
"The commercial exchange was $11 billion."
Why this matters: One source states that bilateral trade amounted to $10.8 billion last year, while the other claims it was $11 billion. This difference in trade figures could influence perceptions of the economic relationship between the two countries.