Lee launches South America economic diplomacy after AI summit in San Francisco

President Lee Jae Myung arrived in Brasilia on Sunday (local time), launching a practical economic diplomacy push as part of a tour spanning the United States and three South American countries — Brazil, Chile and Argentina.

Earlier in San Francisco, Lee met with the heads of major global AI companies over dinner in what he called a "family gathering," exploring avenues for cooperation in the AI industry. The South America leg of the trip focuses on building supply chain partnerships in critical minerals and other resources, and laying the groundwork for Korean companies to expand into the region.

Upon arriving in Brasilia, Lee inspected a military transport aircraft as his first official engagement, underscoring defense industry cooperation, before chairing a senior presidential staff meeting via video link. Invited on a state visit by Brazilian President Luiz Inácio Lula da Silva, Lee is scheduled Monday to attend an official welcoming ceremony, then hold a summit, an MOU signing ceremony, a joint press statement and a state luncheon at the presidential residence, Palácio da Alvorada.

Speaking at the opening of a video conference with senior presidential staff in Brasilia, Lee said the South America tour marked a significant step for his administration. "Our government's first South America tour has now begun in earnest," he said, adding that diversifying and deepening the country's diplomatic network was "essential for the stable development of the nation" at a time of rapid shifts in the international order.

He said South America, with its vast population and abundant resources, was "one of the most necessary regions for broadening our diplomatic horizons," and pledged to use the tour to strengthen ties with the Global South and consolidate South Korea's role as a key global player.

Brazil is a resource-rich nation that holds the world's second-largest rare earth reserves and ranks first globally in exports of coffee, sugar and chicken. It is also the world's fifth-largest country by territory and seventh by population, and plays an active leadership role in the UN and G20 as well as in regional affairs across South America.

Brazil also leads Mercosur, the South American trade bloc. During his visit, Lee plans to discuss resuming negotiations on a Korea-Mercosur free trade agreement with President Lula and explore ways to significantly expand bilateral trade.

Lee will then travel to São Paulo, where he is scheduled Tuesday to hold a luncheon with the Korean diaspora community and convene a Korea-Brazil business roundtable.

Lee will then travel to Chile on Wednesday, where he is scheduled to meet with the Korean community and, on Thursday, hold a summit at the presidential palace, La Moneda, followed by a Korea-Chile business roundtable. He also plans to discuss modernizing the free trade agreement between the two countries — the first FTA South Korea ever concluded.

Late Thursday, Lee will move on to Argentina for an official visit that includes a summit and other engagements. His overarching goal is to expand practical government-to-government cooperation with Brazil — Latin America's largest defense market — Argentina, which ranks third in the world for hallyu-related media coverage, and Chile, an emerging infrastructure market, to translate the region's potential into concrete opportunities for Korean businesses across a range of sectors.

Meanwhile, on Friday (local time), Lee had dinner at a restaurant in San Francisco with Jensen Huang, CEO of Nvidia; Hock Tan, president and CEO of Broadcom; Rani Borkar, president of Microsoft Azure Hardware; Samsung Electronics Chairman Lee Jae-yong; SK Group Chairman Chey Tae-won; Hyundai Motor Group Executive Chair Euisun Chung; and Naver board chairman Lee Hae-jin. The group held a candid conversation about the AI industry and cooperation opportunities. Lee told the gathering that "the people you share a meal with are your family," emphasizing unity among the CEOs. Huang responded, "Then we are family," adding to the warm atmosphere of the evening.