Korea will strengthen rare earth supply chain cooperation with Brazil. It will also accelerate cooperation in the space industry.
According to the Blue House and others, the government said on the 27th (local time) that it signed seven memorandums of understanding (MOUs) with the Brazilian government, including supply chain cooperation, on the occasion of President Lee Jae-myung's state visit to Brazil.
First, the government decided to strengthen supply chain cooperation with Brazil, which has the world's second-largest rare earth deposits. The two countries signed an industrial technology cooperation MOU to promote technological cooperation in seven advanced strategic sectors, including supply chains and the bioeconomy.
A space cooperation MOU was also signed. The deal streamlines launch regulations between the two countries, including launch authorization procedures, when domestic corporations such as INNOSPACE use Brazilian launch sites.
An MOU in education was also included. It covers cooperation in higher education, such as technical and vocational education, along with expanding Korean language education in Brazil's regular schools. It is the first agreement the two countries have concluded in education in 60 years since the cultural agreement in 1966.
Meanwhile, at about 10:30 a.m. (local time), President Lee arrived at the Alvorada Palace, the presidential residence in Brasília, and began the summit.
After the talks, President Lee is scheduled to travel to São Paulo to host a luncheon meeting with the Korean community and a Korea-Brazil business roundtable.