South Korean President Lee Jae-myung expressed his intention to restart trade negotiations with the South American bloc Mercosur after a bilateral meeting with Brazilian President Luiz Inácio Lula da Silva in Seoul. Lee emphasized the urgency of resuming negotiations on the trade agreement, which had been stalled since 2021, indicating a strong desire for collaboration between the two economies.

Lula and Lee discussed various pathways to reinvigorate the halted trade talks, showcasing their mutual agreement that achieving a trade deal is an important priority. The dialogue reflects both nations' interest in enhancing economic cooperation, which could lead to benefits for both economies through increased trade flows and partnerships in various sectors.

This meeting is part of Lula's state visit to South Korea, aimed at strengthening commercial ties. Lula's visit follows his participation in diplomatic activities in New Delhi, India, where he signed agreements, underscoring his administration's focus on international trade and collaboration. Resumption of Mercosur negotiations could be significant for Brazil and the region as they seek new economic opportunities on the global stage.