JBS strikes South Korea partnership as it eyes $2.5 bn Nigeria farm investment

Brazil‑based JBS, the world’s largest beef producer, signed a memorandum of understanding with South Korea’s Highland Foods Co. Ltd. on July 28. The agreement, formalised at the Brazil‑Korea Business Roundtable in São Paulo, creates a global strategic partnership aimed at expanding JBS products in Korea and other Asian markets. JBS board chairman Jerry O’Callaghan and Highland Foods founder‑CEO Young Mi Youn signed the pact, which is part of broader efforts to revive stalled Mercosur‑South Korea trade talks announced during South Korean President Lee Jae‑myung’s visit to Brazil.

Separately, JBS is pursuing a reported US$2.5 billion investment to develop Nigeria’s livestock sector. Critics warn the project could repeat the company’s history of deforestation, land grabs and forced labour, and stress the need for transparent due‑diligence. Environmental groups note JBS’s methane emissions rival those of major oil firms, raising concerns about climate impact alongside the potential economic benefits for Nigeria.