Institute for Future Strategy, Seoul National University — Economic Security Cluster
Qualitative Analysis Team Report (12 Countries)
Brazil’s Economic Security
The Economic Security Cluster at the Institute for Future Strategy (IFS), Seoul National University conducted an evaluation of twelve major partner countries’ economic security conditions, focusing on their strengths, weaknesses, and linkages with Korea. The qualitative analysis team—composed of current and former officials from the Ministry of Foreign Affairs—produced this series to inform Korea’s strategic cooperation priorities.
This report analyses Brazil’s economic security strategy and potential directions for Korea–Brazil cooperation. As a resource-rich country and the largest economy in Latin America, Brazil’s strategic importance within global supply chains is rapidly increasing. Its abundant mineral resources (iron ore, nickel, rare earth elements, etc.) and agricultural productivity make it a key actor in the evolving landscape of global economic security. Following the Russia–Ukraine war, Brazil’s geopolitical and economic value has gained further prominence as energy, food, and mineral security have emerged as central issues in international political economy.
According to the SWOT analysis, the findings are as follows:
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Strengths: Abundant natural and energy resources, vast mineral reserves, a large domestic market, continuous investment inflows, robust industrial and technological capabilities, and a secure geopolitical environment with minimal external threats.
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Weaknesses: Inefficient political system, deep economic inequality, structural fragility, high operational costs (“Brazil cost”) due to overregulated labour rights, pervasive corruption, high crime rates, poor infrastructure, weak public healthcare, and dependence on U.S. influence as a regional power.
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Opportunities: Reconfiguration of global supply chains and the resurgence of the “Pink Tide” in South America, offering Brazil greater regional leadership potential.
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Threats: Diplomatic balancing challenges between major powers and growing international criticism over Amazon deforestation.
From an economic security perspective, Brazil is a vital partner for Korea’s outward expansion into Latin America. Beyond its vast consumer market and rich reserves of oil and minerals, Brazil offers promising opportunities for manufacturing and resource cooperation. Strengthening ties with Brazil—especially amid the second Pink Tide, which has created a favourable political environment for Brazilian leadership in the region—is increasingly essential.
Korea should pursue a “select and focus” approach in its cooperation with Brazil, prioritising areas where it holds competitive advantages. These include science and technology, ICT, 5G, e-government, education, healthcare, biotechnology, and infrastructure development. Concrete and sector-specific collaboration in these fields will yield the most strategic outcomes for both nations.
Keywords:
Brazil, economic security, resource security, global supply chain, industrial diversification, Pink Tide, Latin America strategy, science and technology cooperation, infrastructure development
