{"id":2205601,"date":"2024-06-28T08:00:21","date_gmt":"2024-06-27T23:00:21","guid":{"rendered":"https:\/\/koreapro.org\/?p=2205601"},"modified":"2024-06-27T19:54:59","modified_gmt":"2024-06-27T10:54:59","slug":"south-korea-to-lead-global-critical-mineral-supply-chain-security-group","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/06\/south-korea-to-lead-global-critical-mineral-supply-chain-security-group\/","title":{"rendered":"South Korea to lead global critical mineral supply chain security group"},"content":{"rendered":"

South Korea will <\/span>chair the Minerals Security Partnership<\/span><\/a> (MSP) for one year starting July 1, leading cooperation among 14 member countries and the European Union to secure a stable global critical mineral supply chain. The MSP aims to diversify critical mineral sources essential for advanced industries and clean energy transition.<\/span><\/p>\n

As chair, South Korea plans to ensure substantial results from ongoing MSP pilot projects, set long-term goals and preside over biannual Senior Representatives\u2019 Meetings. The government will promote cooperation between MSP members and mineral-rich countries, monitor industry trends and seek to expand opportunities for Korean companies in related projects as part of its pan-governmental efforts to identify and respond to supply chain crises.<\/span><\/p>\n

Why It Matters<\/b><\/p>\n

Chairing the MSP will likely advance South Korea\u2019s critical mineral objectives. As the chairing nation, South Korea will likely aim to set long-term goals for the partnership, promote cooperation between MSP members and mineral-rich countries and share international critical mineral industry trends with <\/span>South Korean businesses<\/span><\/a>. This role will enable South Korea to influence global policies and initiatives related to critical mineral supply chains.<\/span><\/p>\n

South Korea has committed to intensifying its efforts to secure critical minerals through strategic partnerships and cooperation. The <\/span>First U.S.-ROK-Japan Ministerial Meeting on Industry<\/span><\/a>, held on Wednesday, focused on promoting the development of critical and emerging technologies and strengthening economic security. The three countries formed a consensus on expanding cooperation in semiconductor and critical mineral supply chains. Additionally, during the <\/span>ROK-Japan Ministerial Meeting on Industry and Trade<\/span><\/a> on the same day, the two nations agreed to establish the \u201cKorea-Japan Hydrogen and Ammonia Supply Chain and Utilization Cooperation Platform.\u201d<\/span><\/p>\n

Additionally, President Yoon Suk-yeol pledged to enhance critical mineral partnerships with African nations during the <\/span>Korea-Africa Summit<\/span><\/a> earlier this month by launching a ministerial-level critical mineral dialogue and expanding Official Development Assistance and export financing. South Korea also discussed ways to expand supply chain cooperation with <\/span>Chile<\/span><\/a> and launched its \u201c<\/span>K-Silk Road<\/span><\/a>\u201d initiative during Yoon\u2019s trip to Central Asia.<\/span><\/p>\n

Chairing the MSP will likely play a crucial role in shaping South Korea\u2019s strategies and bilateral partnerships.<\/span><\/p>\n

Business & Economy<\/span><\/a>Inter-Korean & Foreign Relations<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"

South Korea will chair the Minerals Security Partnership (MSP) for one year starting July 1, leading cooperation among 14 member countries and the European Union to secure a stable global critical mineral supply chain. The MSP aims to diversify critical mineral sources essential for advanced industries and clean energy transition. As chair, South Korea plans […]<\/p>\n","protected":false},"author":10407,"featured_media":2205602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28],"class_list":["post-2205601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations"],"yoast_head":"\nSouth Korea to lead global critical mineral supply chain security group - 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\/2024\/06\/south-korea-to-lead-global-critical-mineral-supply-chain-security-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea to lead global critical mineral supply chain security group - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea will chair the Minerals Security Partnership (MSP) for one year starting July 1, leading cooperation among 14 member countries and the European Union to secure a stable global critical mineral supply chain. 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