emirates7 - The Republic of Korea and Argentina have agreed to strengthen strategic bilateral cooperation in critical minerals by pursuing joint projects across the entire lithium value chain.

A Memorandum of Understanding toward that end was signed on the sidelines of a bilateral summit between Korean President Lee Jae Myung and his Argentine counterpart Javier Milei in Buenos Aires.

Under the MoU, the two countries will share information on their respective policies regarding critical minerals and related investment systems, while promoting bilateral corporate investment and pursuing joint projects across the entire lithium value chain, including exploration and mining, according to National Security Adviser Wi Sung-lac.

Seoul and Buenos Aires also agreed to cooperate to ensure stable exports of Argentine crude oil to Korea, as Korea plans to begin importing Argentine crude oil next year following a pilot shipment earlier this year, he said.

Going forward, the two countries will further expand energy cooperation to include natural gas and nuclear energy and jointly explore opportunities for additional cooperation, he said.

Korea and Argentina also agreed to work toward the prompt resumption of negotiations on a free trade agreement between Korea and the South American trade bloc Mercosur.