880,000 barrels of Argentine crude oil introduced domestically for the first time

While President Lee Jaemyung was on an official visit to Argentina, South Korea and Argentina agreed to expand cooperation in energy and critical minerals. At the KoreaArgentina summit held in Buenos Aires on the 31st (local time), the two countries held discussions related to diversifying crude oil import sources. National Security Office Director Wi Sunglac said that a Korean company piloted the import of Argentine crude oil this year and plans to begin fullscale imports starting next year based on that. The volume of Argentine crude oil entering South Korea this year is known to be 880,000 barrels. The government sees this cooperation as an opportunity to broaden the crude oil supply structure, which is concentrated in the Middle East, to South America. In addition to crude oil, the two countries also plan to review the potential for cooperation in natural gas and nuclear power, and to pursue joint projects including the exploration and mining of critical minerals such as lithium, as well as sharing investment information.