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  • Kim Hye-kyung: Arirang and Tango, Two Hearts for a Long Time
    Kim Hye-kyung: 'Arirang and Tango, Two Hearts for a Long Time' On July 31, Kim Hye-kyung stated, "Arirang and tango are not two unfamiliar musics meeting for the first time; they are two hearts that have known each other for a long time, finally coming together in one rhythm."Accompanying President Lee Jae-myung on an official visit to Argentina, Kim attended the concert titled 'Arirang and Tango, Two Hearts, One Rhythm' at the Usina del Arte concert hall in Buenos Aires, emphasizing the cultural empathy and friendship between the two countries.This event was held to commemorate the 20th anniversary of the Korean Cultural Center in Argentina and was attended by Maria Belen Ludueña, the spouse of the Buenos Aires mayor, Gabriela Ricardes, the city’s Minister of Culture, Seo Seung-mi, the director of the National Gugak Center, and Kim Mi-sook, the director of the Korean Cultural Center in Argentina.In her speech, Kim expressed her joy at meeting everyone in Buenos Aires, the birthplace of tango and a city of art, greeting them in Spanish with "Buenas tardes."She noted that Argentine tango embodies the people's feelings of nostalgia for their hometown, loneliness, love, and the sorrow of parting, as well as a passionate spirit that perseveres through life's challenges.Kim also highlighted that Korea's Arirang has been a song that accompanies people through both joy and sorrow, expressing emotions that are hard to articulate, and serves as a song of hope in difficult times.She mentioned that both Arirang and tango are recognized as UNESCO Intangible Cultural Heritage and expressed her hope that this meeting would leave warm memories that strengthen the friendship between the two nations.Minister Ricardes responded by stating, "The Korean community has now become a valuable part of Buenos Aires, and Koreatown has grown into a beloved space for citizens," adding that although Korea is far away, it always feels close.The concert opened with a performance of 'Buenos Aires 0:00' by the Buenos Aires Tango Orchestra Ensemble, followed by tango performances. The Korean side featured the National Gugak Center's creative ensemble performing 'Monggeumpo Taryeong' and 'Sinpuri.'Subsequently, musicians from both countries collaborated on Astor Piazzolla's 'Libertango' and 'Arirang Semachi,' merging traditional Korean music and tango on one stage. The performance of 'Libertango' included tango dancers from both Korea and Argentina.As the powerful performance of the taepyeongso and tango continued, Kim applauded enthusiastically several times. After the final piece, 'Arirang Semachi,' all attendees, including Kim, stood and responded with applause.Kim joined hands with Mrs. Ludueña and Minister Ricardes, cheering together before taking the stage for a commemorative photo with the musicians and dancers from both countries. After the event, she shook hands with the performers and took photos with local families who attended the concert, proudly holding the Korean flag.* This article has been translated by AI. 2026-08-01 07:04:00
  • Test Drive: BYD Sea Lion 6 DM-i Blends Electric and Hybrid Features
    Test Drive: BYD Sea Lion 6 DM-i Blends Electric and Hybrid Features The BYD Sea Lion 6 DM-i, the first plug-in hybrid (PHEV) launched in South Korea, raises the question: is it an electric vehicle or a combustion engine car? If one were to assign a sorting hat from the movie 'Harry Potter' to this vehicle, it would likely classify it as an 'electric car.' Although it features both a gasoline engine and an electric motor, its platform and driving mechanism are designed more like an electric vehicle.Upon receiving the BYD Sea Lion 6 DM-i, the first impression was intriguing. The medium-sized SUV, with its deep black exterior and robust build, exuded a sense of mystery. The rear of the vehicle features both an electric charging port and a fuel filler cap, clearly showcasing its dual nature as a plug-in hybrid.Starting the engine revealed a total driving range of 970 kilometers on the 12.3-inch digital dashboard. The gasoline icon indicated a range of 931 kilometers, while the battery icon showed a 66% charge. The vehicle's system estimated that it could travel 39 kilometers in pure electric mode.During a test drive from Dobong-gu to Guro-gu, the Sea Lion 6 DM-i was driven along the Eastern Highway and the Inner Circular Road. The 15.6-inch rotating intelligent cockpit seamlessly integrated Kakao Navigation, allowing for intuitive access to vehicle information and directions.The driving experience felt generally substantial. When set to electric vehicle (EV) mode, the differences from existing BYD electric vehicles were minimal. Pressing the accelerator produced the characteristic 'whir' of the electric motor, delivering immediate torque. While the vehicle felt heavy, its movements were agile, and the quietness typical of electric cars was maintained throughout the drive.The Sea Lion 6 DM-i is equipped with BYD's lithium iron phosphate (LFP) blade battery (18.3 kWh), allowing it to travel up to 70 kilometers in pure electric mode, making it suitable for commuting in and out of Seoul or traveling to the outskirts.Switching to hybrid mode enhanced the feeling of driving an electric vehicle. This driving characteristic is attributed to BYD's core technology, the Dual Mode Intelligent (DM-i) system. It operates on a single platform with a 1.5-liter turbocharged gasoline engine and a liquid-cooled electric motor. Depending on the driving conditions, the system automatically switches between electric motor only, engine only, or a combination of both. However, during rapid acceleration or when climbing steep inclines, the presence of the engine became more pronounced.While driving in hybrid mode, the battery charge increased slightly from 22% to 24%. This was due to the engine acting as a generator, intermittently charging the battery. The ability to switch back to electric mode afterward highlighted the advantages of a plug-in hybrid.* This article has been translated by AI. 2026-08-01 07:04:00
  • Typhoon Dolphins Changing Path Raises Concerns for the Korean Peninsula
    Typhoon Dolphin's Changing Path Raises Concerns for the Korean Peninsula The projected path of Typhoon Dolphin, the 13th typhoon of the season, has changed, increasing concerns about its potential impact on the Korean Peninsula. Current forecasts suggest that the typhoon is less likely to make direct landfall, but experts warn that heat waves could intensify as a result.On August 1, various online communities shared a post titled "Why Typhoon Dolphin Could Be Worse for Korea." The post indicated that if the typhoon heads toward China, it could exacerbate the heat wave in Korea. Kang Nam-young, a geography professor at Kyungpook National University, stated in an interview, "When the typhoon moves south, the air currents from the east can lead to increased humidity and intensified heat in the western regions as they cross the eastern coastal terrain."Conversely, if the typhoon is influenced by high pressure and moves northward along the west coast, it could bring strong winds and heavy rain, resulting in significant damage. Professor Kang noted, "If the typhoon makes landfall, the heat wave will not be the main concern; rather, it could cause severe disaster damage due to its immense scale."Earlier that day, another post titled "Typhoon Dolphin's Path Changes Again" circulated online. This post included the expected trajectory of Typhoon Dolphin, highlighting that as of July 30, the typhoon was projected to move northward over the southern regions and into the Yellow Sea. However, the forecast was revised on July 31 to indicate a path toward Taiwan and China, passing south of Jeju Island.According to the Korea Meteorological Administration, Typhoon Dolphin is likely to continue moving northwest, passing southeast of Japan and heading toward the eastern coast of Taiwan and China. While the current forecast does not indicate a direct path through the Korean Peninsula, the trajectory may change due to atmospheric pressure variations, necessitating ongoing updates to the forecast. 2026-08-01 06:16:00
  • South Korea Warns of North Korea-Russia Military Cooperation Threat
    South Korea Warns of North Korea-Russia Military Cooperation Threat South Korea's National Security Office Chief, Wi Sung-lak, stated on July 31 that the military cooperation between North Korea and Russia directly impacts South Korea's security, emphasizing that it is not an issue to be taken lightly. He called for an end to military cooperation that violates United Nations Security Council resolutions.During a press briefing in Buenos Aires, Argentina, Wi responded to questions regarding the possibility of additional North Korean troop deployments to Russia. Recently, Ukrainian President Volodymyr Zelenskyy raised concerns about potential North Korean troop deployments and missile attacks. There are also discussions in Ukraine about the possibility of drone production cooperation between North Korea and Russia.Wi noted, "The military cooperation between Russia and North Korea, along with the ongoing conflict in Ukraine, is a major concern for us. We are making efforts to gather and verify information as it becomes available." He specifically criticized Russia, stating that such cooperation contravenes UN Security Council resolutions and that all nations, especially responsible permanent members, must adhere to these resolutions.He added, "We will closely monitor the overall situation in Ukraine and take necessary measures. We will strive to ensure that military cooperation between North Korea and Russia diminishes or ceases altogether."Wi also mentioned that the South Korean government is considering various options, including deploying naval vessels or military assets, to support the free passage of ships through the Hormuz Strait. However, he clarified that no specific requests for military asset deployments have been received from the United States, and the government has not yet determined its support strategy.He stated, "The U.S. has not made specific demands but is exploring what South Korea can contribute. Our government is engaging in discussions while internally reviewing various possibilities."However, Wi emphasized that decisions cannot be made unilaterally by the government, noting that legal procedures require consensus from the National Assembly and public opinion.He remarked, "The free passage through the Hormuz Strait is a significant interest for South Korea's economic security. The government believes it should actively participate and contribute to related processes, and is reviewing possible options."Regarding recent controversies over the operation of U.S. drones and communication issues, Wi confirmed that prior communication had occurred between South Korea and the U.S., and that South Korea was aware of the related plans. He stated, "As far as we know, there has been communication between South Korea and the U.S., and we were aware of the plans. I do not see any significant issues, nor do I believe there are problems with communication or military discipline between our two countries."He added, "We should also consider what level of reporting is appropriate. If both sides are aware of the plans, there should be no issues with cooperation and coordination, but I will look further into the internal reporting processes within the military."* This article has been translated by AI. 2026-08-01 06:12:00
  • KOSPI Surges Over 1,000 Points Amid Semiconductor Rally and AI Investment Signals
    KOSPI Surges Over 1,000 Points Amid Semiconductor Rally and AI Investment Signals This week, the domestic stock market experienced a record rebound after a significant drop due to concerns over the semiconductor industry and distortions in the supply and demand of single-stock leveraged products. The surge was fueled by signals of continued AI investment from major U.S. tech companies. Market attention is now focused on whether the panic selling has subsided and if the AI investment cycle will continue, along with the normalization of supply and demand leading to a sustained rebound.According to the Korea Exchange, on July 31, the KOSPI closed at 6,595.45, up 1,001.89 points (17.91%) from the previous trading day. The KOSDAQ also rose by 74.98 points (11.63%) to finish at 719.76. However, for the week of July 27-31, both the KOSPI and KOSDAQ fell by 1.42% and 3.80%, respectively.The KOSPI had plummeted by 10.84% on July 28 and dropped another 5.98% on July 29, reaching as low as the 5,200 range. However, on July 31, it rebounded by over 1,000 points, attempting to recover the 6,600 level. The KOSDAQ also fell to the 630 range on July 29 but surged back to near 720 on July 31.This week’s market exhibited extreme volatility due to simultaneous concerns over the AI investment cycle and large-scale liquidations of leveraged positions. The emergence of Chinese AI models, worries about capital expenditure burdens among U.S. tech giants, and geopolitical risks in the Middle East dampened investor sentiment, leading to sell-offs primarily in the semiconductor sector. Additionally, the rebalancing and forced liquidation of single-stock leveraged products triggered circuit breakers on both the KOSPI and KOSDAQ for two consecutive days.However, the mood shifted dramatically in the latter part of the week. Major tech companies like Microsoft and Amazon maintained their commitment to expanding AI investments, alleviating fears of a slowdown in AI demand. Notably, strong performance in Microsoft’s cloud business and Amazon’s AWS growth led to a surge in U.S. semiconductor stocks, which in turn attracted significant buying interest in domestic semiconductor stocks, including Samsung Electronics and SK Hynix. Foreign investors led the KOSPI rebound on July 31, with net purchases exceeding 7 trillion won in the cash market.Market analysts suggest that the causes of the recent drop were more related to supply and demand distortions rather than corporate fundamentals. New regulations on the basic deposit for single-stock leveraged products took effect on July 31, and the hedge fund 'Situational Awareness,' which had invested heavily in AI infrastructure-related stocks with high leverage, completed forced liquidations after a margin call, easing selling pressure in the semiconductor sector.Looking ahead, the performance of U.S. semiconductor companies will be a key variable in determining the continuation of AI investments. AMD is set to announce its second-quarter results on August 5, followed by SanDisk on August 6. If revenues from data centers and AI accelerators, along with guidance for the second half of the year, meet market expectations, it could sustain optimism for increased AI infrastructure investments. Conversely, if results or forecasts fall short, investor sentiment in the semiconductor sector may weaken again. Additionally, key economic indicators such as the U.S. ISM manufacturing index and employment report will be closely watched for their potential impact on future interest rate trajectories.Analysts believe that much of the valuation burden has been alleviated during the recent drop, suggesting that volatility is likely to decrease gradually. However, macroeconomic factors such as U.S. long-term interest rates and Middle Eastern geopolitical tensions remain potential constraints on market upside.Na Jeong-hwan, a researcher at NH Investment & Securities, stated, "The earnings uncertainty is significantly easing with the upcoming earnings reports from major tech companies and domestic semiconductor firms. Although the consensus for SK Hynix has been revised downward, the operating profit levels for semiconductor companies are expected to rise steadily on a quarterly basis through next year, indicating that stock prices will rebound based on profit levels rather than growth rates."Lee Jae-won, a researcher at Yuanta Securities, noted, "Since the causes of the drop were not fundamental, a strategy focusing on undervalued high-performing stocks is effective. While there are still risks of increased volatility due to short-term surges, as well as concerns over oil prices and geopolitical risks in the Middle East, the completion of liquidations by AI hedge funds and the implementation of regulations on single-stock leverage are expected to lead to a normalization of supply and demand."* This article has been translated by AI. 2026-08-01 06:04:10
  • Next Year Will Transform the HBM Market as China Enters, Sparking Equipment Supercycle
    Next Year Will Transform the HBM Market as China Enters, Sparking Equipment Supercycle Samsung Electronics and SK Hynix are intensifying their competition in high-bandwidth memory (HBM) as they enter the production phase of the next-generation HBM4. This shift is positioning the semiconductor equipment industry as a major beneficiary. With Micron and China's largest DRAM producer, ChangXin Memory Technologies (CXMT), also ramping up HBM development and production, demand for related equipment is expected to surge.According to Swiss investment bank UBS on July 31, Samsung is projected to capture a 41% market share in HBM shipments next year, surpassing SK Hynix, which is expected to hold 39%. While SK Hynix currently leads with a 48% share this year, Samsung's aggressive expansion in HBM4 production and capacity is anticipated to change the landscape in 2027.The shift in market dynamics is attributed to aggressive capacity expansion. Samsung is significantly increasing its HBM4 production capabilities through substantial equipment investments, while SK Hynix is reportedly reallocating some production lines to meet the demand for high-value general-purpose DRAM, leading to a relative decline in HBM shipments.As the competition for dominance in next-generation HBM heats up, related equipment investments are also on the rise. Samsung is aggressively expanding its HBM production capacity, particularly in Pyeongtaek, while SK Hynix plans to increase its equipment investments to the upper 40 trillion won range this year to enhance HBM4 production capabilities. Micron is investing 14 trillion won to establish an HBM factory in Hiroshima, Japan, and CXMT is pursuing simultaneous HBM development and DRAM expansion, backed by significant funding from its recent IPO.HBM4 requires more advanced packaging and high-precision post-processing than the existing HBM3E, leading to an increase in the scale of equipment investments. The demand for post-processing equipment, including TC bonders and inspection tools, is rising, resulting in higher investment amounts as HBM generations evolve.Domestic equipment manufacturers are already feeling the benefits. Hanmi Semiconductor, the leading TC bonder provider, reported record earnings in the second quarter, driven by increased demand for HBM equipment. Hanwha Semitek is strengthening its focus on the TC bonder and next-generation hybrid bonding markets, while semiconductor inspection equipment firm Techwing recently signed a supply contract worth 10 billion won with Micron.The competition in HBM is evolving from a technological race to a battle for production capacity. As demand from AI semiconductor clients like NVIDIA and AMD rapidly increases, memory manufacturers are proactively securing equipment to accelerate their production timelines. Last month, SK Hynix placed an additional order for TC bonder equipment worth 42.2 billion won from Hanmi Semiconductor, and Samsung is also expanding its TC bonder suppliers beyond its subsidiary, Semes, to include ASMPT.An industry insider stated, "Next year, the competition between Samsung and SK Hynix in HBM4 will intensify, with China also joining the expansion efforts, likely leading to a significant increase in equipment orders. The HBM cycle is expected to usher in a new supercycle for the equipment industry."* This article has been translated by AI. 2026-08-01 06:04:00
  • Kim Se-jeong to Star in High School Queen Set for 2027 Release
    Kim Se-jeong to Star in 'High School Queen' Set for 2027 Release Studio Dragon is set to produce the adaptation of the Naver Webtoon 'High School Queen.'Scheduled for release in 2027, 'High School Queen' follows Kim Cheong-ha, Joseon's greatest warrior and queen, who awakens in the body of a high school girl victimized by bullying 400 years later. She uses her royal grace and martial arts skills to confront evildoers while seeking the dreams and love she could not achieve in her past life.The series is based on the Naver Webtoon 'High School Queen,' written by Criti and illustrated by Nehae. Director Yoon Seong-sik, known for works like 'Gwigung,' 'Mr. Queen,' and 'Kakshi: The Story of a Hero,' will helm the project, with the script penned by Lee Jeong-tae. Production is a collaboration between Studio Dragon, Mog Film, and Jaedam Media, and it will be released as a Tving original.Kim Se-jeong will portray Kim Cheong-ha, who awakens in the body of Kim Da-jin, a high school girl bullied at school. With the instincts of a queen and a warrior, she will confront those who have taken advantage of her.Kim Se-jeong expressed her excitement, stating, “I feel that this character encompasses various aspects of the roles I have played, and I am preparing with both excitement and pressure. The narrative and the joy of each episode are significant, so I am practicing a lot for acting and action.”She added, “I will do my best to bring great fun and emotion to viewers through the character Cheong-ha.”Bae Hyun-sung will play Seong Won-joo, a loyal bodyguard in love with Kim Cheong-ha, and Seong Si-woo, the ace of the kendo club. He will showcase contrasting charms as a devoted bodyguard in the past and a prickly kendo ace in the present.Bae Hyun-sung remarked, “The story, which blends action, romance, and fantasy, is intriguing and fun. Since it traverses between the past and present, I believe I can show various sides of myself, and I am looking forward to it.”Jo Han-kyul will take on the roles of King Lee Nyoung, the absolute power of Joseon, and the mysterious transfer student Lee Do-yoon. He will develop unpredictable relationships with Kim Cheong-ha and Seong Si-woo.Jo Han-kyul expressed his gratitude, saying, “I am honored and happy to be part of such a great work as 'High School Queen.' I was thrilled to hear the casting news, and I am already looking forward to filming day by day. I will prepare hard to show a good performance, so please look forward to it and support me.”'High School Queen' tells the story of Queen Kim Cheong-ha, who crosses 400 years to bring order to a high school dominated by money and power while resolving unfinished ties from her past life. The blend of Joseon and 21st-century settings, along with the combination of action and romance, promises to be a highlight of the series.The production team at Studio Dragon aims to present a visual feast that captures the beauty and elegance of Korean culture while exploring the potential for global expansion of the IP through content planning and development.* This article has been translated by AI. 2026-08-01 06:04:00
  • New Direct Bus Route from Seoul Station to Everland Launches
    New Direct Bus Route from Seoul Station to Everland Launches A new express bus route will connect the northern part of Seoul directly to Everland without transfers. The 4105 bus will begin operations on August 1, linking Seoul Station, Myeongdong, and Itaewon to Everland and Yongin's Yangji area.Samsung C&T's resort division announced on July 30 that the 4105 bus will start service on August 1. The new route will depart from the Seoul Station Bus Transfer Center, passing through Sungnyemun, Namdaemun Market, Myeongdong, and Itaewon before using the highway to reach Everland and Yongin's Cheoin-gu.Previously, traveling to Everland from northern Seoul required transfers on buses or subways, taking about 1 hour and 40 to 50 minutes. However, the 4105 bus will allow passengers to reach the Everland bus stop in approximately 1 hour without transfers, reducing travel time by about 40 to 50 minutes.Everland officials expect an increase in usage from foreign tourists who may not be familiar with public transportation transfers, as the bus passes major tourist attractions like Sungnyemun, Namdaemun Market, Myeongdong, and Itaewon.Currently, express buses connecting Seoul and Everland include the 5002 (Sinnonhyeon Station, Gangnam Station, Yangjae Station) in the Gangnam area, the 5700 (Gangbyeon Station, Jamsil Station, Songpa Station, Suseo Station) and 1113 (Gangbyeon Station, Gangdong Station) in the southeastern area, and the 1500-2 (Sadang Station, Nambu Terminal) in the southern area. The introduction of the 4105 bus expands direct routes to the northern part of the city.In the metropolitan area, buses 66 and 66-4 (Suwon Station, Yongin City Hall), 670 (Sujigu Office), and Incheon buses 8862 and 8839 also pass through Everland. Regular tour buses from various regions can be reserved in advance.Accessibility to Everland has also improved for those traveling by car. The opening of the Guri-Anseong section of the Sejong-Pocheon Expressway in January last year has shortened travel times from southeastern Seoul and northern Gyeonggi Province, as well as northwestern Gangwon Province. From the Gangdong-Godeok IC in Seoul, travelers can now reach Everland in about 35 minutes, which is approximately 25 minutes faster than before during peak hours.Everland plans to provide information about the 4105 bus route and usage methods through its website and social media.* This article has been translated by AI. 2026-08-01 06:04:00
  • South Korea to Import Argentine Crude Oil Starting Next Year
    South Korea to Import Argentine Crude Oil Starting Next Year The South Korean government will begin importing crude oil from Argentina next year. Following a pilot purchase by HD Hyundai Oilbank this year, both governments have agreed to support stable imports and gradually increase the volume. Wi Sung-lak, the National Security Office chief, revealed this information during a briefing in Buenos Aires on July 31. He stated, "While the initial volume is not large, it marks an important beginning. Argentina's capacity for oil production and export is growing, indicating more opportunities for cooperation in the future." According to the government, domestic companies have conducted a pilot import of Argentine crude oil this year, with plans to commence regular imports next year. The two governments will continue discussions to ensure the scheduled oil imports proceed smoothly and to expand future purchase volumes. HD Hyundai Oilbank is the company that made the first purchase this year. In a written interview with the Spanish news agency EFE prior to a summit, President Lee Jae-myung noted that HD Hyundai Oilbank had purchased Argentine crude oil for the first time this year, amounting to approximately 880,000 barrels. However, it is yet to be determined if other domestic refiners will participate in next year's imports. The government's focus on Argentine crude oil stems from its high dependence on the Middle East, from which South Korea imports about 70% of its crude oil. Instability in the Middle East or disruptions in the Strait of Hormuz could directly impact the country's energy supply. Argentina can export oil via the Atlantic, making it less susceptible to major maritime chokepoints like the Strait of Hormuz and the Red Sea. Although the initial import volume is small, securing a new supply base in South America is significant for energy security, according to Wi. To manage follow-up actions from the summit, both countries agreed to reactivate the Energy Resource Cooperation Committee. This committee will focus on discussions not only about the import of Argentine crude oil but also on natural gas, nuclear energy, and key minerals such as lithium and copper. Wi emphasized, "Securing diverse oil supply lines is the direction we must pursue following the situation in the Middle East, and we will strive to secure more Argentine crude oil." Additionally, a double taxation agreement was reached during the summit to reduce the tax burden on South Korean companies operating in Argentina. The two sides also agreed to promptly resume negotiations on the Korea-Mercosur trade agreement to enhance market access for South Korean businesses in South America. In particular, to expedite the entry of K-food into the Argentine market, both countries will discuss designating South Korea as Argentina's 'High Sanitary Surveillance Agency.' Both nations will reactivate the Economic Joint Committee and the Energy Resource Cooperation Committee to manage the follow-up actions from the summit. The Economic Joint Committee will address trade and investment issues, while the Energy Resource Cooperation Committee will explore cooperation in lithium, copper, crude oil, gas, and nuclear energy. Furthermore, both countries will work towards the swift conclusion of a mutual recognition agreement for driver's licenses and expand cooperation in culture, education, and human exchanges. New collaborative projects in defense, space, Antarctica, and health will also be explored. Wi concluded, "Both leaders shared a commitment to quickly deliver tangible results that the public can feel through efficiency and speed." 2026-08-01 04:20:00
  • POSCOs Sal de Oro Model: President Yoon Signs MOU for Mineral Supply Chain with Argentina
    POSCO's 'Sal de Oro' Model: President Yoon Signs MOU for Mineral Supply Chain with Argentina President Yoon Suk Yeol has highlighted POSCO Group's lithium project 'Sal de Oro' in Argentina as a prime example of critical mineral cooperation between the two countries. The government plans to diversify its energy supply lines based on HD Hyundai Oilbank's first purchase of Argentine crude oil.In a written interview with the Spanish-language international news agency EFE, released on July 31, President Yoon stated, "We will sign a memorandum of understanding (MOU) on critical mineral supply chain cooperation during this visit, building on our successful collaboration in lithium production."He cited POSCO's Sal de Oro project as a key example of this cooperation. The project, undertaken by POSCO's local subsidiary in Salta and Catamarca provinces, encompasses the entire value chain from lithium brine extraction and processing to the commercial production of lithium compounds.This initiative goes beyond merely importing lithium raw materials from Argentina, combining local production, processing, and value creation. It is seen as a win-win model that provides South Korean companies with a stable supply chain for critical minerals while offering Argentina opportunities for mineral industry advancement and job creation.President Yoon emphasized that South Korea is the "optimal partner" for the development of Argentina's mineral industry. He noted that combining Argentina's abundant resources with South Korea's capabilities in battery materials and advanced manufacturing could establish a globally competitive critical mineral value chain.In the energy sector, he pointed to HD Hyundai Oilbank's recent purchase of Argentine crude oil as a sign that energy cooperation between the two countries is moving from discussions to actual transactions.President Yoon is particularly focused on Argentina's transition from an energy-importing to an energy-exporting country, especially through the expansion of production at the 'Vaca Muerta' shale oil and gas field. Vaca Muerta is a key production site that Argentina is developing to enhance its status as an energy exporter, potentially providing South Korean refiners and energy companies with new sources to diversify their oil imports away from the Middle East.He assessed that the recent conflicts in the Middle East have exposed vulnerabilities in South Korea's heavy reliance on imported energy, with approximately 70% of its crude oil imports coming from that region. The government is prioritizing the diversification of oil import sources as a national objective.President Yoon also noted Argentina's stable transportation conditions and its relative immunity to major maritime bottlenecks as advantages. Given these conditions, he explained, Argentina could play a more significant role in the reshaping global energy market.He expressed hope that this visit would mark a new starting point for energy cooperation between South Korea and Argentina.The two governments will also strengthen their cooperative framework. The MOU on critical mineral supply chain cooperation to be signed will serve as an institutional foundation supporting collaboration between the governments and businesses of both countries across the entire supply chain, from mineral extraction and processing to material production and advanced manufacturing.Additionally, President Yoon plans to seek Argentina's support for resuming trade agreement negotiations with Mercosur. South Korea and Mercosur began negotiations for a trade agreement in 2018 but have not made progress since 2021.Earlier, President Yoon held a summit with Brazilian President Luiz Inácio Lula da Silva, agreeing to announce the resumption of negotiations during the Mercosur summit in December. To achieve this, support from Argentina, as well as Uruguay and Paraguay, members of Mercosur, is necessary.EFE noted that President Yoon's meeting with Argentine President Javier Milei comes shortly after tensions arose between President Milei and President Lula. However, the written interview with President Yoon took place before any conflicts between the two leaders emerged.President Yoon acknowledged the existence of differing political views among South American countries regarding trade policies and international issues, stating, "South American countries have resolved territorial disputes through dialogue and compromise and established Mercosur to lower trade barriers in the region."On this day, he will meet with President Milei in Buenos Aires to discuss critical mineral supply chains, energy, food security, and the resumption of trade agreement negotiations with Mercosur. This marks the first official visit by a South Korean president to Argentina in 22 years.* This article has been translated by AI. 2026-07-31 23:20:00