South Korea, Brazil agree to institutionalize supply chain cooperation on rare earths, critical minerals

President Lee Jae Myung, on a state visit to Brazil, has agreed to institutionalize supply chain cooperation with the country on rare earths and other critical strategic minerals.

Cheong Wa Dae chief spokesperson Kang Yu-jung said in a written briefing Tuesday (local time) that South Korea's Ministry of Trade, Industry and Energy and Brazil's Ministry of Mines and Energy signed a "Joint Statement on Critical Strategic Minerals" on the sidelines of Lee's state visit.

The statement's central significance lies in its commitment to building a resilient and diversified supply chain for critical minerals, including rare earths, and its emphasis on shared prosperity through local processing and value creation.

The two countries agreed to expand cooperation, recognizing that critical and strategic minerals play a key role in the energy transition, digital transformation, advanced technology industries and sustainable economic development.

The intent is to make supply chain cooperation a central pillar of the bilateral strategic partnership, given that competitiveness in future industries — electric vehicles, batteries, semiconductors and AI — hinges on securing a stable supply of critical minerals.

The joint statement also enshrines the principle of respecting each country's national sovereignty and policy autonomy in mineral development.

"The intent is for the two countries to cooperate on mutually beneficial terms while recognizing Brazil's resource sovereignty and autonomy in industrial policy," Kang said.

The visit produced eight cooperation documents covering critical strategic minerals, industrial technology, energy, space, education, sports, film and cybersecurity. The two leaders called for the substantive implementation of the documents and directed Brazil's vice president and the head of the Cheong Wa Dae policy office to work out follow-up coordination measures in each area.