South Korea targets Australian minerals to reduce supply chain risks



Analysis South Korea targets Australian minerals to reduce supply chain risks Enhanced cooperation aims to reduce reliance on China, but environmental regulations and stiff competition pose hurdles John LeeSeptember 3, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON An illustration of an open-pit mine \| Image: Korea Pro A meeting between South Korean and Australian trade officials on Monday underscored new opportunities for ROK businesses to diversify their critical mineral supply chains away from China and enter a growing clean energy market. Companies in sectors such as battery manufacturing, semiconductor materials and green hydrogen technology stand to gain from such a collaboration with Canberra. However, the promise of working with a democratic partner country with abundant natural resources is not without risk, requiring South Korean companies to navigate significant regulatory hurdles to operating in Australia and fierce market competition with major international companies, ranging from Tesla to BP. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01Why South Korea cannot rebalance growth without stronger regional clusters 02Samsung, SK Hynix rejection exposes South Korea’s chip-grid financing problem 03Trump’s Cheongung social media post tests Seoul’s refusal to arm to Ukraine 04Lee Jae Myung risks public trust as South Korea rewires its justice system 05South Korea turns to Central Asia as Iran war tests its energy resilience 06Houthi seizure of Mokha sharpens South Korea’s Hormuz deployment dilemma 07Japan’s stronger yen may cut Korea’s import bill while raising funding costs 08South Korea leans on Europe as Hormuz deployment choices grow narrower

Analysis

South Korea targets Australian minerals to reduce supply chain risks

Enhanced cooperation aims to reduce reliance on China, but environmental regulations and stiff competition pose hurdles

John LeeSeptember 3, 2024

South Korea targets Australian minerals to reduce supply chain risks

An illustration of an open-pit mine | Image: Korea Pro

A meeting between South Korean and Australian trade officials on Monday underscored new opportunities for ROK businesses to diversify their critical mineral supply chains away from China and enter a growing clean energy market.

Companies in sectors such as battery manufacturing, semiconductor materials and green hydrogen technology stand to gain from such a collaboration with Canberra.

However, the promise of working with a democratic partner country with abundant natural resources is not without risk, requiring South Korean companies to navigate significant regulatory hurdles to operating in Australia and fierce market competition with major international companies, ranging from Tesla to BP.

LATEST ANALYSIS

01Why South Korea cannot rebalance growth without stronger regional clusters
02Samsung, SK Hynix rejection exposes South Korea’s chip-grid financing problem
03Trump’s Cheongung social media post tests Seoul’s refusal to arm to Ukraine
04Lee Jae Myung risks public trust as South Korea rewires its justice system
05South Korea turns to Central Asia as Iran war tests its energy resilience
06Houthi seizure of Mokha sharpens South Korea’s Hormuz deployment dilemma
07Japan’s stronger yen may cut Korea’s import bill while raising funding costs
08South Korea leans on Europe as Hormuz deployment choices grow narrower

South Korea targets Australian minerals to reduce supply chain risks

LATEST ANALYSIS

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John Lee