The Federation of Korean Industries (FKI) has joined hands with Brazil's business community to build a "one team" cooperation system spanning investment, production and the entire supply chain. Major Korean business leaders, including Hyundai Motor Group Executive Chairman Euisun Chung, attended in large numbers, further strengthening the momentum for economic cooperation with Brazil, a country with a massive domestic market of 200 million people and abundant resources.
The FKI said it held the "2026 Korea-Brazil Business Roundtable" jointly with the Brazilian Trade and Investment Promotion Agency (ApexBrasil) at the Grand Hyatt Hotel in Sao Paulo, Brazil, on the 28th. The event was arranged as a return visit following Brazilian President Lula's trip to Korea in February this year, aiming to broaden the scope of economic cooperation that has accelerated since the two countries elevated their relationship to a "strategic partnership."
At the meeting, around 40 political and business figures from the Korean side attended, including Minister of Trade, Industry and Energy Kim Jung-kwan, FKI Chairman Ryu Jin, Hyundai Motor (005380) Chairman Euisun Chung, POSCO Holdings Chairman Chang In-hwa and Hanjin (002320) Group Chairman Cho Won-tae. Representatives of high-tech industries, such as Samsung Electronics (005930) President Park Seung-hee and LG Electronics (066570) President Ryu Jae-cheol, joined, as did K-beauty executives from companies including Amorepacific and APR (278470). From the Brazilian side, high-ranking government officials including Vice President Geraldo Alckmin attended, along with executives from key companies such as Embraer, one of the world's top three commercial aircraft manufacturers, and JBS, the world's largest meat processor.
"Brazil, which leads global supply chains, and Korea, which has expertise in advanced manufacturing and innovation, are indispensable to each other and an inevitable match," FKI Chairman Ryu Jin stressed. "We hope to form a 'one team' spanning investment, production and supply chain establishment between the two countries and advance into the global market."
The participating companies discussed cooperation measures centered on three major areas: manufacturing and infrastructure, high-tech industries, and consumer goods and distribution. Companies from both countries agreed to build stable supply chains for critical minerals essential to future industries, such as rare earths. They also addressed ways to improve the investment environment, including simplifying licensing and permit procedures to boost entry into Brazil and resuming negotiations on the Korea-Mercosur Trade Agreement (TA).
Tangible results of cooperation were also achieved. Immediately after the roundtable, a total of six memorandums of understanding (MOUs) were signed in fields such as food, bio-health and aerospace, with the industry ministers of both countries in attendance. The FKI said, "Brazil is not simply a source of raw materials but a key strategic partner with which we build future industries together," adding, "This meeting will further accelerate cooperation extending to the manufacturing and consumer goods sectors."
