President Lee Jae-myung: "South Korea is Paying Attention to Argentina, an Emerging Energy Exporter of Shale Gas"

President Lee Jae-myung, who is on an official visit to Argentina, stated, "During this visit, (South Korea and Argentina) will sign a Memorandum of Understanding (MOU) on critical minerals supply chain cooperation."

President Lee made the remarks in a written interview with the Spanish-language news agency EFE, released ahead of his summit with Argentine President Javier Milei.

President Lee stated that the MOU aims to establish a cooperative framework spanning the entire critical minerals supply chain, emphasizing that South Korea, with its advanced capabilities in sectors such as batteries, will be an optimal partner for Argentina as it seeks to add value to its mineral resources through industrial capacity.

He also highlighted POSCO's local subsidiary's "Sal de Oro" project as a prime example of bilateral cooperation, noting that it is yielding results in lithium extraction, processing, and the commercial production of related compounds.

In the interview, President Lee also expressed expectations for energy cooperation.

Argentina holds the world's second-largest shale gas reserves.

President Lee said, "Argentina is transforming from an energy importer into an exporter by expanding production at the Vaca Muerta major shale gas field, and South Korea is paying attention to this."

He also noted that South Korean refinery HD Hyundai Oilbank purchased Argentine crude oil for the first time this year.

President Lee stated, "Argentina, equipped with stable transportation conditions, will be able to play a more important role in the changing global energy landscape," adding, "I hope this visit will serve as a new starting point for bilateral energy cooperation."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.