Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol participated in the Core Mineral Finance Ministers Meeting held on June 12 in Washington D.C., USA. The event was organized amid growing instability in global supply chains, with major countries seeking collaborative solutions. Representatives from the G7, Australia, India, Mexico, and the EC expressed a unified commitment to overcoming vulnerabilities in core mineral supply chains. As international competition for resources intensifies, stable access to core minerals is increasingly vital for national economies and industries.
During the meeting, the United States emphasized a derisking strategy over decoupling, urging concrete actions and investments to enhance supply chain resilience. Koo Yoon-cheol introduced Korean companies’ advanced refining and processing capabilities, highlighting the importance of leveraging comparative advantages for global value chain integration. He also stressed the necessity of resource recycling for supply chain stability. Resource-rich countries like Canada and Australia strongly requested technological cooperation with Korea in refining and recycling.
Koo underscored the need to create platforms for companies to pursue project-based cooperation. Participating nations agreed on the urgency of overcoming supply chain vulnerabilities and building stable networks through international collaboration. The US reiterated the importance of increased investment and practical measures for supply chain resilience. Canada and Australia showed keen interest in Korea’s refining and recycling technologies, actively seeking concrete partnership opportunities.
Looking ahead, stabilizing core mineral supply chains is expected to become a key task for strengthening global economic and industrial competitiveness. Korea is poised to play a central role in international cooperation, leveraging its technological strengths. Expanded joint responses and technological partnerships will help reduce supply chain risks and establish a foundation for sustainable growth. Strategic collaboration between companies and governments will be increasingly important, likely accelerating the reorganization of global value chains.