Power

South Korea-Mercosur trade deal, stalled by Covid-19

The Brazilian Report interviewed the South Korean Ambassador to find out all about the long-awaited trade deal involving both countries

south korea brazil trade pandemic
Photo: Aritra Deb/Shutterstock

Brazil and South Korea have maintained diplomatic relations for 60 years. In 2019, trade between the two countries reached BRL 9.1 billion and South Korean direct investments in Brazil totaled BRL 19.7 billion. Since then, there has been some expectation around a commercial agreement between Seoul and Mercosur, as well as bilateral exchanges in the areas of politics and economics, besides other sectors.

South Korean companies also have their eyes on the Brazilian government’s Investment Partnerships Program (PPI), hoping to take part in major infrastructure works.

However, the Brazilian government has faced pressure against inking deals with...

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