This forum, held online and offline simultaneously, was designed to strengthen the cooperative partnership between South Korea and Brazil, which has recently emerged as a leader in the Global South, while presenting new alternatives to the international community.

Experts who attended the forum explored promising avenues of cooperation between South Korea and Brazil in future industries such as digital transformation, bio-pharmaceuticals, supply chains, and green economy projects, utilizing the Trade and Investment Facilitation Framework (TIPF) signed between the two countries last November 2023, as well as effective local advancement strategies for Korean companies.

In his opening remarks, President Siwook Lee of KIEP praised the Lula administration, which has achieved positive results in political, economic, social, and global environmental issues in the past, for meeting domestic and international expectations in its third term as well. Moreover, “The useful information on Brazil’s economic and industrial policies, along with the future industries, discussed this day will contribute to establishing a strong and mutually beneficial partnership between Korea and Brazil,” he added.

President Moo Won Pyon of KOBRAS stated in his welcoming speech that the forum has promoted cooperation between Korean and Brazilian companies and activating trade and investment between the two countries. He expressed his hope that this event would play a part in establishing successful business strategies for Korean companies seeking to enter the Brazilian market.

The first session, “Brazil’s Economic and Industrial Outlook and Industrial Policy,” was moderated by Dr. Sungwoo Hong, Head of the Africa, Middle East, and Latin America Team at KIEP. Senior Researcher Misook Park of KIEP, Deputy Minister Uallace Moreira Lima of the Brazilian Ministry of Development, Industry, Trade and Services (MDIC), and Director Jefferson de Oliveira Gomes of the Brazilian National Confederation of Industry (CNI), exchanged their opinions on Brazil's current economic situation, new industrial policies, and cooperation in new industries with South Korea.

The second session was mainly focused on the topic of “Korea-Brazil Collaboration in New Industries of the Future.” While Professor Heemoon Jo of Hankuk University of Foreign Studies hosted the session, participants sought to build partnerships and explore business opportunities between the two countries in key sectors of Brazil’s new industrial policy, focusing on the pharmaceutical, mining for energy transition, renewable energy, content, and entertainment industries.

- Title: The 13th Korea-Brazil Business Forum

- Topic: Strengthening the Korea-Brazil Partnership through Cooperation in Future New Industries

- Date & Time: Thursday, August 22nd, 2024, 9:00-12:35

- Venue: Grand Walkerhill Seoul / Zoom

- Hosts: Korea Institute for International Economic Policy (KIEP), Korea Brazil Society (KOBRAS), Ministry of Foreign Affairs (MOFA)

- Sponsor: Embassy of Brazil in Seoul, South Korea

- Contact: KOBRAS secretariat (admin@kobras.or.kr/ +82-2-2090-9797)