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Though Brazil established political-diplomatic relations with South Korea already in 1959, relations did not develop dynamically until the end of the 1980s. Then, first, in 1989 a bilateral memorandum signed in Brasilia, aiming to conceptualize an agenda to foment future relations. The growing Korean participation in Brazilian trade has been reinforced by the fact that the Korean conglomerates, at least until the Asian Crisis, aimed at aggressively augmenting their presence in Latin America, trying to overcome the traditional role performed by Japan. As such, Korean firms have aimed at constituting distribution and commercialization networks in the Brazilian manufacturing sectors. Second, these plans for stronger relations have been disabled by the emergence of Asian Crisis. Third, currently, there is a joint effort to expand the Korean‐Brazilian relationship due to their strategies for international insertion, with greater significance for their respective foreign policies.