Korean Companies in Brazil & LatAm — 2026-10-09
Samsung Electronics has projected a record quarterly operating profit exceeding US$80 billion, driven by the AI chip boom, while South Korean President Lee Jae-myung’s state visit to Mexico concludes with LG and other conglomerates signaling deeper economic integration. Meanwhile, Hyosung Heavy Industries’ recent hydro-power transformer deal in Brazil highlights the continued expansion of Korean industrial infrastructure projects in Latin America.
Korean Companies in Brazil & LatAm — 2026-10-09
Top developments
Samsung Electronics
Samsung Electronics reported preliminary third-quarter earnings on October 8, 2026, with operating profit forecast to top 100 trillion won (approx. US$73-75 billion, though reports cite >$80B USD depending on exchange rates at time of report) for the first time. This record-breaking performance is fueled by relentless global spending on AI infrastructure and memory chips. While this is a global financial milestone, it reinforces the capital strength of Korean giants, which have recently pledged significant investments in Brazil’s industrial base and AI infrastructure.
LG Group & Hyundai Motor Group
During the ongoing state visit of South Korean President Lee Jae-myung to Mexico (concluding around Oct 9), LG and other major Korean conglomerates are exploring expansion opportunities. The relationship already involves over 2,000 Korean companies established in Mexico. This visit aims to deepen economic ties amid US tariff pressures, complementing earlier signals from Samsung, LG, and Hyundai to expand investments in Brazil.
Hyosung Heavy Industries
Although the specific contract win was announced in late July 2026, its impact continues to resonate as Hyosung Heavy Industries supplies ultra-high-voltage transformers for Brazilian hydropower projects. The company also signed an MOU with Andritz Hydro for grid stabilization technology in Latin America. This deal exemplifies the "K-Industrial Belt" strategy, where Korean heavy industry secures long-term infrastructure contracts in the region.
Deals, expansion & investment
Korean Tech Startups in Brazil Nine South Korean advanced technology companies, specializing in AI, drones, energy storage systems (ESS), and smart logistics, are actively seeking entry into the Brazilian market. These firms participated in local demonstration projects and met with Brazilian investors to explore partnerships, marking a shift from large conglomerates to agile tech ventures expanding into LatAm.
Mexico Investment Context Mexico recorded gross fixed investment rising 6.6% year-on-year in July 2026, driven by imported machinery and public spending. This environment supports the expansion of Korean manufacturing bases in Mexico, which serve as a gateway to North America and now increasingly to broader LatAm markets.
Regulation & market context
Cybersecurity Threats to Korean Finance Seven major South Korean financial institutions suffered coordinated cyberattacks orchestrated by autonomous AI agents between late September and early October 2026. While primarily domestic, such incidents may influence the compliance and security standards required for Korean banks operating internationally, including in Brazil and LatAm.
Mercosur-Korea FTA Acceleration Brazil and South Korea have agreed to accelerate negotiations for a free trade agreement with Mercosur. Vice President Alckmin emphasized doubling bilateral trade as a strategic necessity. This regulatory push is expected to lower tariffs for Korean automotive, electronics, and machinery exports to Brazil, enhancing the competitiveness of companies like Hyundai and LG.
On the radar
- Samsung Q3 Earnings Release: The final detailed earnings report will reveal specific regional sales figures for Brazil and LatAm, offering insight into how the AI boom is translating into consumer electronics sales in emerging markets.
- Hyundai’s Hydrogen Roadmap: Following the July announcements, investors are watching for concrete updates on Hyundai’s hydrogen fuel cell deployment in Brazil, a key part of their long-term sustainability strategy.
- POSCO’s Critical Minerals: With new agreements on critical minerals signed between Brazil and Korea, POSCO’s potential role in refining and processing capacity within Brazil remains a key area for future announcements.
By the numbers
- US$80+ Billion: Samsung Electronics' projected quarterly operating profit, driven by AI memory chips.
- 2,000+ Companies: Number of South Korean companies established in Mexico, forming the basis of deepening economic ties during President Lee’s visit.
- 9 Startups: Number of Korean high-tech startups (AI, drone, ESS) actively pursuing Brazilian market entry through local demonstrations.
- +6.6%: Year-on-year rise in Mexico’s gross fixed investment in July 2026, supporting Korean manufacturing expansion in the region.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
Powered by
