• 최종편집 2024-07-20(토)
 

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Starting from July 1, 2024, South Korea will assume the chairmanship of the Minerals Security Partnership (MSP) for one year, with Kang In-seon, the 2nd Vice Minister of Foreign Affairs, serving as chair.  

Critical minerals are essential resources for advanced industries such as semiconductors, batteries, and electric vehicles, which are pivotal to South Korea's economic development. They are also crucial for the transition to clean energy needed to achieve global net-zero goals. However, the deposits and refining facilities for these minerals are concentrated in a few countries, and factors such as the weaponization of resources make it challenging to secure a stable supply chain based solely on economic logic.  

In response, the South Korean government has continuously strived to secure a resilient and stable supply chain for critical minerals from an economic security perspective. The government has strengthened bilateral and multilateral consultations with resource-rich countries in Africa, Central Asia, and Southeast Asia, and actively participated in international discussions, including the MSP. 

The MSP was launched in June 2022 to secure and diversify a stable global supply chain for critical minerals. Currently, 14 countries—South Korea, the United States, the United Kingdom, Japan, Canada, Sweden, France, Australia, Finland, Germany, Norway, Italy, India, and Estonia—and the EU are participating in the MSP. 

As the chair following the United States, South Korea plans to lead cooperation among MSP member countries to ensure that the ongoing MSP pilot projects achieve substantial and tangible outcomes. Additionally, South Korea will set long-term goals for the MSP and preside over the MSP Senior Officials Meetings twice a year. The government will also promote cooperation between MSP member countries and resource-rich nations, closely monitor international trends in the critical minerals industry, share this information with the industry, and actively seek to expand opportunities for South Korean companies to participate in related businesses. 

The South Korean government is making comprehensive efforts to swiftly and systematically respond to supply chain crises. Taking on the MSP chairmanship is expected to enhance the country's leadership in the critical minerals supply chain sector, expand the scope of economic security, and elevate its status as a key global player.

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South Korea Chair the Minerals Security Partnership (MSP) from July 2024
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