South Korea and Brazil Reach New Agreements Covering Key Minerals and Artificial Intelligence. South Korean President Lee Jae-myung and Brazilian President Lula da Silva reached a series of new agreements covering key minerals and artificial intelligence, while also promoting expanded bilateral cooperation. This marks the South American leader's first state visit to South Korea in 21 years. Lee Jae-myung stated, "Today will go down in history, marking a new step forward in our bilateral relations." The two leaders agreed to elevate their relationship to a "strategic partnership" and strengthen cooperation in areas such as trade, cultural exchange, and aviation. Lee Jae-myung stated, "Future cooperation between the two countries will reach a higher level, including joint development of the next generation of civilian aircraft." Following the summit, South Korea and Brazil signed 10 memorandums of understanding covering key minerals and artificial intelligence. Brazil possesses the world's second-largest rare earth reserves, while South Korea's Samsung Electronics and SK Hynix are the world's two largest semiconductor manufacturers.
