SK Networks Co., trading arm of South Korea’s third largest conglomerate SK Group, explored further business opportunities in Brazil this week while celebrating the 60th anniversary of diplomatic ties between the two countries this year.

SK Networks Chairman Choi Shin-won met with Brazil President Jair Bolsonaro on Thursday (local time) in hopes to further bolster ties with the South American country. “As a chairman of the Korea-Brazil Society (KOBRAS), I will do my utmost to facilitate greater cooperation and exchanges between the two countries” said Choi as he vowed to help Brazil build a sustainable business support system, especially for startups.

KOBRAS is a private organization aimed to boost exchanges and cooperation in various fields, including business, culture, and sports, between South Korea and Brazil.

SK Networks also has been working to expand presence in Brazil and neighboring South American markets. Last year, it opened a subsidiary in Brazil.

“I hope the two countries continue to develop a win-win relationship,” said Bolsonaro. The Brazilian president, previously serving in the country’s lower house of its national congress, also visited Seoul last year when he recognized “education played a crucial role for Korea to become an economic powerhouse in a short period of time.”

Choi, serving as the chairman of KOBRAS and honorary consul of Brazil since 2011, has been leading various projects for strengthening ties between Korea and Brazil. He was also awarded the Order of Rio Branco from the Brazilian government in 2015 for his role in advancing business ties and cultural exchange between the two countries.

The Korean businessman after his meeting with Bolsonaro visited King Sejong Institute, a Korean-language institute that the South Korean government set up at the University of Brasilia last year.

By Han Ye-kyung and Cho Jeehyun

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