{"id":2202789,"date":"2023-11-21T08:00:22","date_gmt":"2023-11-20T23:00:22","guid":{"rendered":"https:\/\/koreapro.org\/?p=2202789"},"modified":"2023-11-20T15:29:17","modified_gmt":"2023-11-20T06:29:17","slug":"south-korea-mongolia-launch-rare-metals-cooperation-amid-geopolitical-risks","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/11\/south-korea-mongolia-launch-rare-metals-cooperation-amid-geopolitical-risks\/","title":{"rendered":"South Korea-Mongolia launch rare metals cooperation amid geopolitical risks"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea and Mongolia officially <\/span><a href=\"https:\/\/www.mofa.go.kr\/www\/brd\/m_4080\/view.do?seq=374372&amp;page=1\"><span style=\"font-weight: 400;\">launched<\/span><\/a><span style=\"font-weight: 400;\"> the \u201cKorea-Mongolia Rare Metals Cooperation Committee\u201d and the \u201cKorea-Mongolia Rare Metals Cooperation Center Project\u201d in Ulaanbaatar on Nov. 20. This initiative, led by South Korea\u2019s Ministry of Foreign Affairs and Ministry of Trade, Industry and Energy, is aimed at strengthening cooperation in the rare metals sector. The committee discussed strategies to enhance the supply chain for rare metals and other critical minerals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This collaboration follows the \u201c<\/span><a href=\"https:\/\/www.mofa.go.kr\/www\/brd\/m_4080\/view.do?seq=373351&amp;page=100\"><span style=\"font-weight: 400;\">Korea-Mongolia Rare Metals Supply Chain Cooperation Memorandum of Understanding<\/span><\/a><span style=\"font-weight: 400;\">\u201d signed in February. The discussions also touched on the challenges faced by South Korean companies in Mongolia and the importance of diversifying strategies in the global critical mineral supply chain. Additionally, the meeting acknowledged Mongolia\u2019s support for Busan\u2019s 2030 World Expo bid.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Establishing the \u201cKorea-Mongolia Rare Metals Cooperation Committee\u201d and the \u201cKorea-Mongolia Rare Metals Cooperation Center Project\u201d marks deepening bilateral relations between Seoul and <\/span><span style=\"font-weight: 400;\">Ulaanbaatar<\/span><span style=\"font-weight: 400;\">, particularly in the strategic arena of rare metals and mineral resources. This initiative, underpinned by South Korea\u2019s <\/span><a href=\"https:\/\/www.motie.go.kr\/motie\/ne\/presse\/press2\/bbs\/bbsView.do?bbs_seq_n=167797&amp;bbs_cd_n=81&amp;currentPage=341&amp;search_key_n=title_v&amp;cate_n=1&amp;dept_v=&amp;search_val_v=\"><span style=\"font-weight: 400;\">Official Development Assistance<\/span><\/a><span style=\"font-weight: 400;\"> and Mongolia\u2019s <\/span><a href=\"https:\/\/pubs.usgs.gov\/myb\/vol3\/2017-18\/myb3-2017-18-mongolia.pdf\"><span style=\"font-weight: 400;\">rich mineral reserves<\/span><\/a><span style=\"font-weight: 400;\">, aims to create a mutually beneficial supply chain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This move aligns with South Korea\u2019s strategy to diversify its mineral resource supply chains amid global competition and <\/span><a href=\"https:\/\/koreapro.org\/2023\/11\/why-chinas-graphite-control-impacts-south-koreas-battery-landscape\/\"><span style=\"font-weight: 400;\">geopolitical risks<\/span><\/a><span style=\"font-weight: 400;\">. Additionally, this cooperation aligns with the <\/span><a href=\"https:\/\/www.mofa.go.kr\/www\/brd\/m_4080\/view.do?seq=373843&amp;page=52\"><span style=\"font-weight: 400;\">trilateral consultative body<\/span><\/a><span style=\"font-weight: 400;\"> involving the U.S., further integrating Mongolia into a larger network of resource diplomacy and supply chain security. Further, the inclusion of Mongolia&#8217;s vision to leverage <\/span><a href=\"https:\/\/www.koreaherald.com\/view.php?ud=20230219000105\"><span style=\"font-weight: 400;\">Busan as a key trade corridor<\/span><\/a><span style=\"font-weight: 400;\"> signifies that bilateral ties also encompass trade, infrastructure and logistics.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea and Mongolia officially launched the \u201cKorea-Mongolia Rare Metals Cooperation Committee\u201d and the \u201cKorea-Mongolia Rare Metals Cooperation Center Project\u201d in Ulaanbaatar on Nov. 20. This initiative, led by South Korea\u2019s Ministry of Foreign Affairs and Ministry of Trade, Industry and Energy, is aimed at strengthening cooperation in the rare metals sector. The committee discussed [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2202790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28],"class_list":["post-2202789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea-Mongolia launch rare metals cooperation amid geopolitical risks - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/11\/south-korea-mongolia-launch-rare-metals-cooperation-amid-geopolitical-risks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea-Mongolia launch rare metals cooperation amid geopolitical risks - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea and Mongolia officially launched the \u201cKorea-Mongolia Rare Metals Cooperation Committee\u201d and the \u201cKorea-Mongolia Rare Metals Cooperation Center Project\u201d in Ulaanbaatar on Nov. 20. This initiative, led by South Korea\u2019s Ministry of Foreign Affairs and Ministry of Trade, Industry and Energy, is aimed at strengthening cooperation in the rare metals sector. 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