Korea and Argentina Agree to Critical Mineral Cooperation

Korean President Lee Jae Myung and Argentine President Javier Milei met for their first bilateral summit in Buenos Aires, marking the first visit by a Korean president to Argentina in 22 years.

The two leaders agreed to pursue cooperation in energy supply chains, including critical minerals such as lithium and crude oil. They signed a memorandum of understanding on critical mineral cooperation and agreed to pursue investments and joint projects by companies in Korea and Argentina across the entire lithium value chain.

Korea plans to expand investment opportunities for companies into new critical mineral sectors, such as copper. The two countries also agreed to expand crude oil supply chains to South America, reducing geopolitical uncertainty and enhancing responsiveness to energy supply and demand.