South Korean President departs Argentina for Germany after securing trade talks

South Korean President Lee Jae-myung has concluded his official state visit to Argentina and has now departed for Germany, marking the final leg of his international tour. President Lee and his wife, Kim Hye-kyung, left Ezeiza International Airport in Buenos Aires on July 31st, local time.

During his time in Argentina, President Lee held a summit with Argentine President where they agreed to resume negotiations on the South Korea-Mercosur trade agreement by the end of the year. Both leaders also committed to strengthening cooperation in areas such as critical minerals and energy resources. Mercosur is the largest economic bloc in South America, spearheaded by Brazil, Argentina, Uruguay, and Paraguay.

South Korea initiated trade agreement negotiations with Mercosur in 2018. However, discussions stalled after the seventh round in July 2021, primarily due to quarantine-related issues. The agreement to resume these talks signifies a renewed effort to deepen economic ties between South Korea and the South American bloc.

President Lee is scheduled to arrive in Frankfurt, Germany, on August 2nd. His final official duty of the 7-night, 11-day trip will be a luncheon with overseas Koreans, aiming to connect with the diaspora and conclude his diplomatic engagements.