Buenos aires: South Korea and Argentina agreed Friday to strengthen their bilateral cooperation on critical minerals, including by pursuing joint projects across the entire lithium value chain, a presidential official said Friday. According to Yonhap News Agency, a memorandum of understanding (MOU) was signed on the sidelines of a bilateral summit between South Korean President Lee Jae Myung and his Argentine counterpart, Javier Milei, in Buenos Aires. The MOU aims to facilitate the sharing of information on policies regarding critical minerals and related investment systems between the two nations. The agreement also emphasizes promoting bilateral corporate investment and pursuing joint projects in the lithium value chain, covering areas such as exploration and mining, as stated by National Security Adviser Wi Sung-lac. Additionally, South Korea and Argentina have expressed their commitment to expedite the resumption of negotiations on a free trade agreement between South Korea and the South American trade bloc Mercosur. Mercosur, one of the world's largest trade blocs, includes member countries Brazil, Argentina, Paraguay, Uruguay, and Bolivia, alongside several associate members. Earlier Friday, Argentine President Milei extended a warm welcome to President Lee at the Casa Rosada, the presidential palace in Buenos Aires, where the two leaders posed for photographs before engaging in their summit. Argentina marks the final stop in President Lee's three-nation South America tour, which primarily focuses on strengthening trade relations and cooperation on critical minerals. During his ongoing tour, President Lee also conducted summit talks with President Luiz Inacio Lula da Silva of Brazil and Chilean President Jose Antonio Kast, aiming to fortify alliances and enhance collaborations across the continent.