On December 2nd, 2025, Brazil and Korea celebrate their 24th anniversary of the entry into force of the Agreement to Avoid Double Taxation and Prevent Fiscal Evasion. The original agreement was signed on March 3rd, 1989, and entered into force on December 2nd, 1991. The original treaty includes an interpretative agreement (03/20/2006) and an additional protocol (signed on 04/24/2015 and effective since 11/21/2018).
The diplomatic relations between the two countries started in 1959. In 1962, Korea established its first embassy in Latin America in Rio de Janeiro, marking a milestone in Asia’s projection toward the region. Since then, Brazil and Korea has constructed a framework for bilateral dialogue which includes the Political Consultation Mechanism; the Brazil–Korea Forum; the Agricultural Consultative Committee; the Joint Commission on Science, Technology and Innovation; the Joint Committee for the Promotion of Trade and Investment and Industrial Cooperation; and the Consultation Mechanism on Energy and Mineral Resources, among other cooperation mechanisms. In this regard, the presidents of Korea and Brazil met in late November in South Africa on the occasion of the S20 summit.
Regarding the goods trade, a dynamic flow is observed between the two countries. In the last decade, the exports of Brazil to Korea grew from USD 3.1 billion in 2015 to USD 5.1 billion in 2024, while the imports changed from USD 5.4 billion to USD 5.1 billion. Over the period, the trade balance shifted from a deficit to a surplus for Brazil. On the other hand, Brazil’s main exports to Korea were crude petroleum oils, soybean cakes and pellets, and corn.
