[REVISION HISTORY]

South Korea expands Latin America trade outreach

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2026-07-31 23:56 UTC → 2026-08-01 05:19 UTC · added ~~removed~~

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. ~~These steps build on earlier business round‑tables in São Paulo and Santiago, where dozens~~ The summit also produced economic accords: Argentina will begin regular crude‑oil shipments to South Korea from next year after a trial of ~~firms signed MoUs in aerospace, AI, semiconductors, health, cosmetics~~ 880,000 barrels, and ~~critical‑minerals, underscoring Seoul’s drive~~ the two countries signed a double‑taxation avoidance treaty to ~~diversify mineral sources and deepen high‑technology~~ improve investment conditions. These agreements broaden the partnership beyond minerals, linking energy trade and fiscal cooperation as Seoul expands its outreach across Latin America.

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