2/23/2026 | USA | economy | ✓ Verified - investing.com

South Korea, Brazil agree to expand cooperation in key minerals, trade

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South Korea

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South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and the Sea of Japan to the east. South Korea claims to be the sole le...

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Deep Analysis

Why It Matters

This agreement strengthens South Korea's access to critical mineral resources like nickel and rare earths, which are essential for its technology and battery industries. The strategic partnership enhances economic ties between South Korea and its largest trading partner in South America, potentially reducing supply chain vulnerabilities. The cooperation on transnational threats like cybercrime and narcotics also addresses shared security concerns.

Context & Background

South Korea is heavily dependent on imports for key minerals needed for its tech manufacturing
Brazil possesses significant reserves of rare earth elements and nickel deposits
This is Brazilian President Lula's first state visit to South Korea in 21 years
The leaders previously met at G7 and G20 summits
Brazil is South Korea's largest trading partner in South America

What Happens Next

The four-year action plan will guide implementation of the 10 memorandums of understanding across sectors including minerals, AI, and defense. South Korean companies are expected to explore investment opportunities in Brazil's mineral sector. The strategic partnership will likely lead to increased trade and technological exchanges between the two countries.

Frequently Asked Questions

What minerals are included in the cooperation agreement?

The agreement specifically mentions rare earth elements and nickel deposits as key minerals for cooperation.

How long has it been since Brazil's president visited South Korea?

This is Brazilian President Lula's first state visit to South Korea in 21 years.

What areas does the four-year action plan cover?

The action plan covers strategic minerals, defense, space industries, and food security cooperation.

How many memorandums of understanding were signed?

The leaders oversaw the signing of 10 memorandums of understanding spanning multiple sectors.

Original Source

              try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Can gold rise to new highs above $5,600 in 2026? Bitcoin slips after earlier gains amid tariff volatility Bull vs. bear argument on Friday’s Supreme Court tariff ruling 3 key earnings reports for this week to keep the AI trade alive (South Africa Philippines Nigeria) South Korea, Brazil agree to expand cooperation in key minerals, trade By Reuters Commodities Published 02/23/2026, 01:15 AM Updated 02/23/2026, 01:18 AM South Korea, Brazil agree to expand cooperation in key minerals, trade 0 NICKEL 1.05% By Kyu-seok Shim and Joyce Lee SEOUL, Feb 23 - South Korean President Lee Jae Myung held summit talks in Seoul on Monday with Brazilian President Luiz Inácio Lula da Silva, where they agreed to expand cooperation in sectors including trade, key minerals, technology and culture. The leaders plan to elevate the bilateral relationship into a strategic partnership, and for the countries to work together to support stability on the Korean Peninsula, Lee said. "Peace, built on conditions where conflict isn’t needed, is the strongest form of security," the South Korean president told a joint press conference. The leaders oversaw the signing of 10 memorandums of understanding spanning trade and industrial policy, core minerals, digital economy including AI, agriculture, health and biotech, small-business exchanges and joint policing against cybercrime, narcotics and other transnational threats. In earlier remarks, Lee said the two sides adopted a four-year action plan to map out concrete steps for expanding bilateral cooperation, from strategic minerals to defence and space industries, as well as food security. Brazil is South Korea’s largest trading partner in South America, making economic cooperation a key part of the agenda. Lula said Brazil holds large rare-earth reserves and has substantial nickel deposits, and that his government hoped to attract investment from South Korean companies. In a message posted to X e...
            

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