Lee Says Korean Firms Have Brazil Investment Opportunities, Pledges Economic Diplomacy Support

Lula Extends Special Hospitality with Luncheon and Cultural Performance 13 Korean Companies Invited to Reception for Exchange Lee: "Will Support Expanding Base for Corporate Economic Cooperation"

Politics|
| Updated 2026.07.29. 10:20:17
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By Song Jong-ho in São Paulo
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null - Seoul Economic Daily Politics News from South Korea

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President Lee Jae-myung met with South Korean and Brazilian business leaders on Nov. 27 (local time) and stressed, "The government will actively provide support through economic diplomacy so that this can serve as an opportunity to create new market entry and investment opportunities." Following a luncheon hosted by Brazilian President Luiz Inácio Lula da Silva, and continuing through a cultural performance and reception, he received state-level hospitality while focusing on expanding the synergies of economic cooperation between the two nations.

Kang Yu-jung, senior presidential spokesperson, said in a written briefing on the cultural performance and reception hosted by President Lula, "Korean business leaders operating in Brazil were invited to the reception, providing a time for exchange between the leaders and business figures of the two countries."

Chiefs and CEOs of 13 companies were invited in large numbers, including Ryu Jin, chairman of the Federation of Korean Industries, along with Chang In-hwa, chairman of POSCO; Cho Won-tae, chairman of Korean Air; Park Seung-hee, president of Samsung Electronics; Lee Dong-hoon, president of SK Biopharm; Moon Jae-young, president of HD Construction Machinery; Kim Jong-chul, president of KAI; Yoon Young-mi, president of the Korea Importers Association; and Lee Sang-mok, president of Amorepacific Holdings.

According to spokesperson Kang, President Lee, while conversing with major business leaders from Korea and Brazil, conveyed his intention to "make this state visit an occasion that broadens the foundation for economic cooperation of Korean companies and creates opportunities for new market entry and investment."

Kang also explained that the reception venue, the Itamaraty Palace of the Brazilian Ministry of Foreign Affairs, reflected the Brazilian government's special hospitality. The Itamaraty Palace, a landmark of Brazilian modern architecture and a symbol of Brazilian diplomacy, was designed by the world-renowned architect Oscar Niemeyer and was inscribed on the UNESCO World Heritage list in 1987. "Here, through a collaboration between artists from Korea and Brazil, Brazil conveyed its cultural pride and warm hospitality," Kang said.

null - Seoul Economic Daily Politics News from South Korea

President Lula and his wife drew attention by repeatedly expressing their desire to reciprocate the warm hospitality they received from the Korean government and people during their visit to Korea last February. At the joint press announcement, President Lula also showed special affection toward President Lee, saying, "I strongly wished to show hospitality matching that welcome, at least about 90 percent of it."

The earlier state luncheon was prepared by Mara Salles, a leading Brazilian chef from São Paulo. Chef Mara Salles is known as a figure who has long studied ingredients and regional food culture from across Brazil, sharing the value of Brazilian cuisine with the world.

Notably, the cover of the luncheon menu featured "The Christ the Redeemer Hanbok Media Facade," a work created by designer Lee Jin-hee, an ambassador for Jinju silk, using the giant statue of Christ the Redeemer in Rio de Janeiro. Inside was "Oxá Silk Bojagi," a work by textile artist Jessica Yoo expressing the colors of the Brazilian flag through traditional Korean bojagi (wrapping cloth) techniques.

Through works embodying the cultural symbols of Brazil and Korea, the special hospitality toward the President of the Republic of Korea and the delegation was conveyed. President Lula said, "Education is the most important investment for the future," and assessed that "Korea's development and growth are based on nurturing talent through education." He added, "Brazil also hopes to expand cooperation by sharing with Korea its experience of nurturing talent and achieving economic growth through education."

Having concluded the summit schedule, President Lee arrived in São Paulo late that evening to carry out his state visit agenda in Brazil. Arriving at São Paulo–Guarulhos International Airport, President Lee will begin on Nov. 28 with a luncheon meeting with Korean expatriates, followed by a "business roundtable" in São Paulo, the country's largest economic and financial city.

null - Seoul Economic Daily Politics News from South Korea

Original reporting by Song Jong-ho in São Paulo for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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