By Park Boram

SAO PAULO, July 28 (Yonhap) -- President Lee Jae Myung said Tuesday that South Korea and Brazil have significant potential to expand economic cooperation, citing aircraft, critical minerals and cosmetics as areas where the countries could achieve greater collaboration.

The South Korean president made the remarks at a business roundtable in Sao Paulo, which brought together leaders of major companies from both countries to explore joint business opportunities.

"Considering the sizes of the two countries' economies, the potential for bilateral economic cooperation is very significant," Lee said in his welcoming speech at the event.

The president noted that despite the significant potential, bilateral trade volume remains relatively "very small."

He cited the joint development of next-generation civil aircraft, critical mineral supply chains and Korean beauty products as areas where the two countries could achieve "big outcomes" through cooperation.

"The deepening technological hegemony, represented by the artificial intelligence (AI) revolution and shifting supply chains, is rapidly transforming global industries and the economic order," the president said.

Against such a backdrop, "finding a partner with which a country can create synergy by leveraging each other's strengths is more important than ever," he also said, calling Brazil an "optimal partner."

"If South Korea's unrivaled innovative technology and manufacturing prowess combine with Brazil's abundant resources, our countries could advance as optimal partners leading stable supply chains and future industries," he added.

Tuesday's event was attended by South Korean business leaders and officials, including the heads of Hyundai Motor Group and Korean Air Co., as well as Industry Minister Kim Jung-kwan, along with Brazilian Vice President Geraldo Alckmin and Brazilian business leaders.

Lee is currently on a state visit to Brazil as part of his three-nation South America tour, which will take him to Chile and Argentina later this week.

pbr@yna.co.kr

(END)

  • 'Dracula' featuring Jennie maintains No. 5 on Billboard 100
  • 'Agent Kim Reactivated' reigns atop Netflix's weekly non-English chart for 3rd week
  • Nam Joo-hyuk to star in new Disney+ crime thriller 'Code'
  • Yoon Dan-bi's 'The World Before' to compete in Toronto film fest

  • Disney+ to release 2nd season of 'Made in Korea' in Sept.

  • Disney+ to release 2nd season of 'Made in Korea' in Sept.

  • (LEAD) S. Korea, U.S. open shipbuilding partnership center to advance MASGA initiative
  • 'Agent Kim Reactivated' reigns atop Netflix's weekly non-English chart for 3rd week
  • 'Dracula' featuring Jennie maintains No. 5 on Billboard 100
  • Yoon Dan-bi's 'The World Before' to compete in Toronto film fest