Brazil and South Korea Sign US$ 4 Billion in Deals

Brazilian and South Korean institutions and enterprises signed this Tuesday, May 24, in South Korea, contracts that may result in investments of up to US$ 4 billion in Brazil, in the next years.

President Luiz Inácio Lula da Silva participated on a ceremony to celebrate these partnerships.


In one of the agreements, between the Brazilian Companhia Vale do Rio Doce and the South Korean Posco, a viability study may result in the establishment of a steel mill in the northern state of Maranhão, to produce up to 7.5 million tons of steel plates per year, a US$ 2.5 billion business.


Brazilian government-owned Eletrobras and South Korean Kepco signed an agreement to keep on negotiating about the Korean investment of US$ 1.5 billion in several electric energy projects in Brazil, including the generation, transmission, and distribution phases.


The National Bank of Economic and Social Development (BNDES) and the Bank of Brazil signed with South Korean Exchange Bank and Eximbank a commitment letter to keep exchanging information and experience among them.


And the Brazilian Export Promotion Agency (Apex) signed a protocol of intent with its South Korean counterpart, Kotra, to perform market research for Synovate, a marketing research company.


Agência Brasil

Tags:

You May Also Like

Brazil Embraer's Phenom 300

Brazil’s Embraer Reinforces Sales Team for US, Canada and Mexico

Brazilian aircraft manufacturer Embraer has increased its North America's Executive Jets sales team by ...

Brazil Government Forecasting Lower 2005 GDP

The Focus bulletin, released Monday, November 7, by Brazil’s Central Bank (BC), forecasts that ...

Crime and Impunity

Political assassination is an all too common occurrence in Alagoas. Ten percen or more ...

Brazil Has Only One Among the 100 Largest Companies in the World

This year’s Forbes Magazine’s list of the largest companies in the world reveals that ...

Foreign Investors Flee Brazil’s Stock Market

Brazil's stocks partly recovered (0.16%) on Friday, July 4, after their worst week in ...

US Decries Torture, Child Labor and Political Murder by Police in Brazil

The US issued earlier this month its reports of human rights practices for 2007 ...

Brazilians Rescued from Airports’ Long Lines and Delays by Air Force

TAM, Brazil’s largest airline, announced Friday night, December 22, that it had leased seven planes ...

Bet on Weak Dollar Brings Brazil Firms Billion-Dollar Losses

The Brazilian central bank left the basic Selic interest rate unchanged for the first ...

Gol's Boeing 737 fallen in the Amazon, Brazil

Brazil’s Police Rule US Pilots Caused Country’s Worst Air Tragedy

Brazil's federal police has finished its investigation on the causes of the worst Brazilian ...

Lula Sends New Minimum Wage Bill to Brazilian Congress

In a formal ceremony today, Brazilian ministers Jaques Wagner, the head of the Secretariat ...