South Korea, Brazil Ink Deal to Restart Mercosur FTA Talks
South Korean President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva agreed on 29 July 2026 to restart free-trade negotiations with Mercosur — the South American bloc of Argentina, Brazil, Paraguay, Uruguay, and Bolivia. A joint working group will prepare a formal declaration for the Mercosur summit in December 2026. Talks, launched in 2018, stalled in late 2021 amid manufacturing-sector concerns. Analysts say Seoul must back diplomacy with real investment and technology transfer. Mercosur’s $3.5 trillion GDP and 270 million consumers make it a high-stakes opportunity for Korean exporters and supply chain planners.