Korea & Argentina Seal Crude Oil Deal, Pave Way for Joint Lithium Mining

South Korean President Lee Jae-myung's visit to Argentina has led to significant agreements between the two countries. The visit, part of a three-nation South American tour, saw President Lee hold a summit with Argentine President Javier Milei. One key area of cooperation is in importing crude oil from Argentina, with the first imports set to begin next year.

The South Korean government has conducted trial imports of Argentine crude oil this year and aims to ensure stable supply chains moving forward. A memorandum of understanding on critical mineral cooperation was also signed, paving the way for joint mining efforts with Argentina holding the world's fourth-largest lithium reserves.