President Lee Jae-myung, on an official visit to Argentina, held a summit with President Javier Milei on the 31st (local time) and discussed ways to strengthen cooperation in economic security areas such as critical minerals, energy and food.
In the morning, Lee visited the presidential palace, Casa Rosada, in Buenos Aires and was welcomed by Milei. The two leaders took commemorative photos, shook hands and moved to the meeting room, beginning a closed-door session at 11:40 a.m.
The two leaders were said to have discussed building a cooperation framework for supply chains of critical minerals, including lithium, and ways to expand trade in energy and food.
Kang Yu-jung, senior presidential spokesperson, said in a pre-released written briefing that "Argentina is the world's No. 4 country in lithium reserves," and noted, "On the occasion of this summit, we plan to establish a cooperative supply chain framework for critical minerals, including lithium."
Argentina, along with Brazil, is a key member of the Southern Common Market, Mercosur. The two leaders were also reported to be discussing how to promptly resume negotiations on a Korea-Mercosur trade agreement, which have been suspended since 2021.
Mercosur is a South American tariff union made up of Argentina, Brazil, Paraguay and Uruguay, an economic bloc rich in critical mineral resources such as lithium and nickel.
After the summit, Lee is scheduled to meet Buenos Aires Mayor Jorge Macri to ask for interest in and support for the Argentine Korean community of about 23,000 people.