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[SITUATION] · [ACTIVE]

2 clusters · 49 sources · 4 days · First seen 5 days ago · Last updated 2 days ago

Categories: BUSINESS

POSCO international operations and disputes

Entities: Lee Jae‑myung · South Korea · Mercosur · Geraldo Alckmin · Luiz Inácio Lula da Silva

Overview

On 22 July 2026, Argentina’s Civil and Commercial Court in Salta froze POSCO Argentina’s bank accounts and imposed a multi‑million‑dollar embargo over a civil claim that the company’s lithium project displaced local suppliers. POSCO described the issue as a contract‑performance dispute and the suspension remains in force.

Four days later, POSCO Group unveiled a growth strategy targeting US$128 billion in revenue by 2035 and expanding lithium output to 173 000 tonnes per year by 2033. The plan highlighted a looming debt problem in Brazil, where creditors allege liabilities exceeding R$ 1 billion linked to the bankrupt subsidiary Posco Engenharia e Construção do Brasil.

On 27 July 2026, Brazilian President Luiz Inácio Lula da Silva and South Korean President Lee Jae‑myung announced a joint working group to accelerate a Mercosur‑South Korea free‑trade agreement. The leaders signed memoranda covering critical minerals, aerospace, energy and other sectors, pledging deeper cooperation across the critical‑mineral supply chain. The initiative aligns with POSCO’s lithium expansion goals and its ongoing financial challenges in Brazil, underscoring a broader South Korean push to secure mineral partnerships in South America.

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 3 SOURCES] President Luiz Inácio Lula da Silva received South Korean President Lee Jae‑myung in Brasília on 27 July 2026. (new)
[● 3 SOURCES] The leaders agreed to create a joint working group to accelerate Mercosur‑South Korea free‑trade negotiations, coordinated by Vice‑President Geraldo Alckmin. (new)
[● 3 SOURCES] Memoranda of understanding were signed covering critical minerals, aerospace, energy, education, sport and other sectors. (new)
[● 3 SOURCES] Trade between Brazil and South Korea totaled about US $10.8‑11 billion in 2025. (new)
[● 3 SOURCES] South Korea will send a sanitary mission next month to assess Brazilian meat‑packing plants and open its market to Brazilian beef. (new)
[● 3 SOURCES] Brazil seeks to diversify trade amid new U.S. tariffs on its products. (new)
[● 3 SOURCES] Brazil hosts the largest Korean diaspora in Latin America, over 50,000 people in São Paulo. (new)
[● 3 SOURCES] Cooperation will cover the entire supply chain of critical minerals, from extraction to processing. (new)

Timeline

2 days ago

[BUSINESS] 46 sources
Brazil and South Korea launch working group to accelerate Mercosur trade deal
Brazil’s Lula and South Korea’s Lee created a working group, led by Vice‑President Alckmin, to fast‑track a Mercosur‑Korea free‑trade pact and signed memoranda on critical minerals, aerospace and other sectors.
5 days ago

[BUSINESS] 3 sources
POSCO Argentina hit with million‑dollar court embargo over alleged supplier fraud
Salta court orders a multi‑million‑dollar account freeze and embargo on POSCO Argentina over alleged supplier fraud in its Sal de Oro lithium project; POSCO says the amount is about $350 k and disputes the case

Sources

arroyodiario.com.ar · bahiaprime.com.br · barq-news.com · brasil247.com · cbn.com.br · ccnnews.com.br · colombiaplural.com · comprerural.com · cuarto.com.ar · destakjornal.com.br · dev.tnonline.com.br · diariodocentrodomundo.com.br · diariodoestadogo.com.br · economia.estadao.com.br · educationresources.com · epbr.com.br · epocanegocios.globo.com · exame.com · fatopaulista.com.br · imprensabrasileira.com.br · jornale.com.br · jornalenoticias.com.br · m.koreatimes.co.kr · maracanaonline.com.br · metro1.com.br · metropoles.com · mundopositivo.com.br · mydala.com · ndmais.com.br · news.az · noticiabrasil.net.br · ocafezinho.com · odiariodebarretos.com.br · oglobo.globo.com · paparazzi.com.ar · paraonline.com.br · planetaosasco.com · primeirojornal.com.br · prosaepolitica.com.br · revistaepoca.globo.com · saltadiario.com.ar · spacemoney.com.br · talkaboutwildlife.ca · tribunadepetropolis.com.br · ultimasnoticias.com.ve · veja.abril.com.br · viagemegastronomia.com.br · wdez.com

This summary has been updated 1 time: see revision history