South Korea to import Argentine oil and launch lithium partnership

President Lee Jae‑myung of South Korea concluded a two‑day visit to Argentina with a series of agreements aimed at diversifying energy supplies and securing critical minerals. The leaders signed a memorandum of understanding for joint lithium exploration and mining, and agreed that South Korea will begin regular imports of Argentine crude oil from next year after a pilot shipment of about 880,000 barrels this year. A double‑taxation avoidance treaty was also concluded to facilitate Korean corporate investment.

During the same South‑American tour, Lee secured energy‑grid cooperation with Brazil and a mineral‑supply partnership with Chile, expanding South Korea’s resource network across the region and reducing reliance on Middle‑East oil imports.