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How South Korea can ease Brazilian concerns to unlock trade in South America

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If South Korea wants to unlock access to South American trade, it will need to prove it is not a competitor interested only in extracting natural resources but a trustworthy partner committed to revitalising manufacturing industries, according to observers.
On Monday, South Korean President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva agreed to revive negotiations on a free-trade agreement between South Korea and Mercosur, the South American trade bloc.
A joint working group will be established to prepare a formal declaration to resume talks at the Mercosur summit in December, according to a joint statement issued after their meeting in Brasília.
Analysts, however, warn that scepticism towards the deal remains strong across the region, particularly within Brazil’s manufacturing sector. To win support in Latin America, Seoul should demonstrate tangible commitments through investment and technology transfer – not just diplomatic rhetoric, they say.
South Korean President Lee Jae Myung (left) and Brazilian President Luiz Inacio Lula da Silva observe a presentation of troops at the Alvorada Palace in Brasilia on Monday. Photo: Reuters

South Korea-Mercosur trade talks, which started in 2018, have been stalled since late 2021 amid growing concerns that increased imports of Korean goods could harm the region’s industrial base.

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