Korea Electric Power Corporation (Kepco), a Korean state-owned company and Brazil’s Eletrobrás – Centrais Elétricas Brasileiras S.A. – will develop research projects on energy sources.
The companies intend to analyze both renewable sources, such as wind energy, biomass, as well as those fossil-related, such as gas, diesel, and coal, among others.
Joint investments will also include projects in the transmission and distribution segments of the electric energy in Brazil and other Latin American countries.
Both companies signed the protocol to make their intentions official, this Thursday, April 14, in Brasília. The Minister of Mines and Energy, Dilma Rousseff, Eletrobrás President, Silas Rondeau Cavalcante, and both President and Senior Vice-President of Kepco, Joon-Ho Han, and Meng-Hyun Yoon participated in the ceremony.
Speaking, at the end of last year, in the Ministry of Foreign Relations, in Brasília, at a dinner in honor of South Korean President Roh Moo-Hyun, Brazilian President Luiz Inácio Lula da Silva reaffirmed Brazil’s desire to have South Korea as a strategic partner in Asia.
In his speech Lula said that “Brazil is ready for the resumption of development” and pointed out that trade between the two countries has reached US$ 3 billion.
Lula said that Brazil backs South Korea’s entry into the Inter-American Development Bank (IDB). He also underlined the need to discover a negotiated solution for the Korean peninsula as part of a solution for world peace.
Along the same lines, the Brazilian President emphasized the need for a reform of the United Nations that will enable emerging countries to have an active voice in the organization.
Lula went on to say that regional integration is the way to find solutions to sustained development. “The Mercosur is the touchstone of the South American Community of Nations we intend to build together with the Andean and Amazonian countries,” the President remarked.
He observed that the Mercosur can contribute to the deepening of trade relations between South America and Asia.
In an expression of appreciation for the toast offered by Lula, the President of South Korea lauded the Brazilian President’s initiative in proposing the creation of a Global Fund to Combat Poverty and Hunger.
According to Moo-Hyun, this initiative “has attracted the attention of over 100 countries.”
He added that Lula set “an example to be followed,” through the implementation of the Zero Hunger Program and the formation of the Global Allance that allows developing countries to benefit from the reduction of their foreign debt.