# South Korea expands Latin America trade outreach > Live situation record from CLSTR: https://clstr.news/situations/south-korea-latin-america-trade-outreach > Updated: 2026-07-31T00:12:20.000Z. Sources: 35. Developments: 3. In late July 2026 President Lee Jae‑myung continued his Latin‑American tour, modernising the Korea‑Chile free‑trade agreement and signing MoUs on critical minerals, security and research. The mineral‑resources MoU targets lithium, copper and other strategic inputs, while the FTA committee was re‑activated after a decade. Lee then made the first South Korean presidential visit to Argentina in 22 years, arriving in Buenos Aires for a three‑day trip and meeting President Javier Milei at the Casa Rosada. The leaders signed a memorandum of understanding on critical‑minerals cooperation, focusing on the full lithium value chain—from exploration to refining—to secure stable supplies for batteries and advanced‑technology industries. South Korean steelmaker Posco received tax‑exempt status and export‑rights waivers under Argentina’s “Super RIGI” regime for its Sal de Oro lithium project, a US$207.9 million investment. Both sides pledged to revive stalled Korea‑Mercosur free‑trade negotiations and discussed broader collaboration in artificial intelligence, energy, food security and defence. The summit also produced economic accords: Argentina will begin regular crude‑oil shipments to South Korea from next year after a trial of 880,000 barrels, and the two countries signed a double‑taxation avoidance treaty to improve investment conditions. These agreements broaden the partnership beyond minerals, linking energy trade and fiscal cooperation as Seoul expands its outreach across Latin America. ## Claims - Lee Jae Myung visited Argentina, the first South Korean presidential visit in 22 years. (corroborated by 15 sources) - Lee Jae Myung praised Argentina’s RIGI and Super RIGI regimes as catalysts for large projects. (corroborated by 14 sources) - Lee Jae Myung and Javier Milei signed a memorandum of understanding on critical minerals, especially lithium. (corroborated by 8 sources) - The MoU aims to promote joint projects across the lithium value chain, including exploration, extraction, processing and refining. (corroborated by 6 sources) - Chile and South Korea will modernise their 2004 free‑trade agreement and reactivate a joint FTA committee. (corroborated by 5 sources) - Chile and South Korea signed a memorandum of understanding to cooperate on critical minerals such as copper and lithium. (corroborated by 4 sources) - Presidents José Antonio Kast and Lee Jae Myung signed five memoranda of understanding in Santiago. (corroborated by 4 sources) - President Lee praised Argentina’s Regime of Incentives for Large Investments (RIGI and “Super RIGI”) as a catalyst for major projects. (corroborated by 4 sources) - Posco received RIGI benefits for its Sal de Oro lithium project, a $207.9 million investment. (corroborated by 4 sources) - Chile and South Korea will co‑host the 2028 United Nations Ocean Conference. (corroborated by 3 sources) - South Korea and Argentina discussed resuming negotiations on a free‑trade agreement between South Korea and Mercosur. (corroborated by 3 sources) - South Korean President Lee Jae Myung visited Argentina, the first South Korean presidential visit in 22 years. (corroborated by 3 sources) - South Korea and Argentina discussed resuming stalled Korea‑Mercosur free‑trade agreement negotiations. (corroborated by 3 sources) - South Korean steelmaker Posco received RIGI benefits for its Sal de Oro lithium project, a $207.9 million investment. (corroborated by 3 sources) - The leaders discussed cooperation in artificial intelligence, energy and food sectors. (corroborated by 3 sources) - South Korea and Argentina agreed to resume negotiations on a free‑trade agreement between South Korea and Mercosur. (corroborated by 3 sources) - The leaders discussed cooperation on artificial intelligence as a driver of economic growth. (corroborated by 3 sources) - South Korea will begin regular imports of Argentine crude oil from next year after a trial import of 880,000 barrels. (corroborated by 3 sources) - South Korea and Argentina finalized a double‑taxation avoidance agreement. (corroborated by 3 sources) - Chile is the world’s largest copper producer and the second‑largest lithium producer. (corroborated by 2 sources) - Bilateral trade between South Korea and Chile reached US$6.991 billion in the previous year. (corroborated by 2 sources) - The agreements include cooperation on critical‑minerals supply chains, the defence industry and advanced manufacturing. (corroborated by 2 sources) - First Lady Kim Hea Kyung visited Santiago’s Pre‑Columbian Art Museum and said it felt like traveling back 3,000 years. (corroborated by 2 sources) - The Brazil‑South Korea Business Roundtable was held in São Paulo on 28 July 2026, chaired by Vice President Geraldo Alckmin and President Lee Jae Myung. (corroborated by 2 sources) - Seven memoranda of understanding were signed, including an aerospace cooperation MOU between Korea Aerospace Industries (KAI) and Embraer. (corroborated by 2 sources) - Lee Jae Myung arrived in Argentina, the first South Korean presidential visit to the country in 22 years. (corroborated by 2 sources) - Lee Jae Myung met Argentine President Javier Milei to discuss lithium supply‑chain cooperation and restarting Korea‑Mercosur trade negotiations. (corroborated by 2 sources) - The agreements were signed during South Korean President Lee Jae Myung’s official visit to Chile at a ceremony in the Palacio de La Moneda. (single source) - Agreements also cover police cooperation, maritime‑guard collaboration, Antarctic research institutes and investment‑promotion agencies. (single source) - Approximately 30 senior executives from Brazil and South Korea participated, discussing manufacturing, advanced industries, and consumer goods. (single source) - JBS signed a memorandum of understanding with South Korean company Highland Foods to expand its presence in South Korea and other markets. (single source) - Additional MoUs were signed between Apex and KOTRA, Embrapii and KIAT, Finep and KIAT, Eurofarma and SK Biopharmaceuticals, and Embraer and KAI. (single source) - Bilateral trade between Brazil and South Korea totals about US$11 billion, with Brazil accounting for roughly 1 % of Korean imports. (single source) - Brazil supplies roughly 80 % of the chicken imported by South Korea and leads coffee exports to the country. (single source) - Negotiations are ongoing to open the South Korean market for Brazilian beef and fruits such as grapes, melons and lemons. (single source) - The Korea‑Chile FTA, in force since 2004, has increased trade fourfold but lacks coverage of AI, digital trade and critical minerals. (single source) - Argentina holds the world’s fourth‑largest lithium reserves. (single source) - South Korea aims to diversify its critical‑mineral supply chains and secure lithium for batteries and semiconductors. (single source) - National Security Adviser Wi Sung‑lac participated in the talks and highlighted the MoU on critical minerals. (single source) ## Timeline ### 2026-07-31: South Korean President Lee Jae Myung signs minerals MoU with Argentina Lee Jae Myung’s visit to Argentina led to a critical‑minerals MoU, plans for Argentine crude imports, a double‑tax treaty and renewed talks on a Korea‑Mercosur free‑trade pact. 24 sources. https://clstr.news/cluster/south-korean-president-lee-jaemyung-upgrades-koreachile-fta-and-seeks-lithium-partnership-in-argenti ### 2026-07-29: Brazil‑South Korea Business Roundtable Yields Multiple MoUs and Trade Deals Brazil‑South Korea Business Roundtable in São Paulo secured seven MoUs, including JBS‑Highland Foods, aerospace ties, and trade deals as bilateral trade reaches $11 bn. 4 sources. https://clstr.news/cluster/south-korea-and-brazil-sign-seven-mous-on-aerospace-rareearths-and-kbeauty ### 2026-07-28: South Korean President Lee Jae Myung and Chilean President Kast sign five bilateral agreements South Korean President Lee Jae Myung and Chilean President Kast signed five memoranda on minerals, security, Antarctic research and trade, pledged to modernise their 2004 FTA, co‑host the 2028 UN Ocean summit, 12 sources. https://clstr.news/cluster/south-korean-president-lee-jaemyung-visits-chile-to-modernize-fta-and-discuss-strategic-minerals --- Cite as: South Korea expands Latin America trade outreach. CLSTR, https://clstr.news/situations/south-korea-latin-america-trade-outreach