A Landmark Meeting at Casa Rosada

On July 31, 2026, Argentina and South Korea took a major step forward in their bilateral relationship. President Javier Milei received his South Korean counterpart, Lee Jae-myung, at the Casa Rosada — the first official visit by a South Korean head of state to Argentina in 22 years.

Lee arrived in Buenos Aires after completing a South American tour that also included stops in Brazil and Chile, as reported by Perfil. During the meeting, Lee congratulated Milei on Argentina’s declining inflation and the implementation of the RIGI (Regime of Incentives for Large Investments), praising the excellent dialogue and harmony between the two leaders.

Strategic Agreements: Lithium, AI, and the RIGI

The bilateral agenda focused on key sectors for future development: lithium, critical minerals, artificial intelligence, energy, and food security. As a result of the visit, a memorandum of cooperation on critical minerals was signed at the Palacio San Martín. The document was signed by Argentine Foreign Minister Pablo Quirno and South Korea’s Minister of Trade, Industry, and Resources Kim Jeong-kwan, according to Infobae.

This agreement aims to deepen cooperation in exploration, extraction, and refining of lithium, ensuring secure supply chains for the battery and advanced technology industries. Earlier, Economy Minister Luis Caputo met with Minister Jeong-kwan to explore new investments in strategic sectors, as confirmed by La Prensa.

Million-Dollar Investments Approved

Asian interest translates into concrete figures. The Argentine government approved access to RIGI benefits for the South Korean company POSCO to expand its Sal de Oro lithium project in northwestern Argentina, with an estimated investment of US$207.9 million. By joining the RIGI, POSCO gains tax benefits, 30-year stability, and access to international arbitration.

In parallel, the government also presented a urea plant project by Pampa Energía under the same incentive regime, strengthening the country’s energy and fertilizer infrastructure, as reported by TV Pública.

Argentina as a Lithium Powerhouse

Lithium is one of the most dynamic sectors of Argentina’s economy. According to the United States Geological Survey, Argentina is the fifth-largest lithium producer worldwide, holds the third-largest reserves, and ranks first in total resources together with Bolivia. Currently, the country has 69 lithium projects at various stages, of which 7 are already in production, including POSCO’s Sal de Oro.

Lee Jae-myung’s visit, which also included the reception of credentials from new ambassadors, reflects the growing interest of Asian powers in securing a place in South America’s resource table. It opens a horizon of prosperity, technological innovation, and shared growth for both nations.