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Trade minister meets Mercosur ambassadors to discuss deeper economic cooperation

Published: 05 Mar. 2026, 13:29

This file photo taken on Feb. 12 shows Trade Minister Yeo Han-koo speaking at a conference hosted by the American Chamber of Commerce in Korea at the Grand Hyatt Hotel in Seoul. [YONHAP]

Trade Minister Yeo Han-koo met with ambassadors from South America's Mercosur countries Thursday to discuss ways to deepen economic cooperation, including trade agreement negotiations, Yeo's office said.

Yeo met with the ambassadors of Argentina, Brazil, Paraguay and Uruguay, which form a South American trade bloc called Mercosur, in Seoul to discuss the possible reopening of negotiations for a trade deal between Korea and Mercosur and strengthening cooperation in supply chains, according to the Ministry of Trade, Industry and Resources.

Mercosur is the largest economic bloc in South America, with a total population of 290 million people and combined GDP of $2.7 trillion. The bloc also holds abundant mineral resources, including lithium and nickel, widely used in advanced industries.

Korea and Mercosur have held seven rounds of trade negotiations since 2018, but the talks have stalled since the latest round held in August 2021.

“Mercosur is a very important cooperation partner for Korea seeking market diversification and supply chain stabilization as the global trade environment is going through unprecedented change in the rise in trade protectionism and weaponization of natural resources,” Yeo said.

The ministry said Yeo also called for Mercosur's active support for Korean companies operating in the region, including Posco Holdings, which is investing in Argentina for lithium production.

Yonhap