Mineral Corporation Signs MOU with Canada Northern Development Agency to Accelerate Private Sector Support for Resource Development

Opening of Private Support Center in Canada Followed by
Business Agreement with Northern Development Agency under Ministry of Natural Resources
"Plan to Discover Promising North American Mines and Provide to Private Sector"

Kwon Soon-jin, Director of Overseas Planning at Korea Resources Corporation, shakes hands with Paula Isaac, Director of the Canada Northern Development Agency, at a business agreement ceremony held in Toronto, Canada, on the 3rd (local time). (Photo by Korea Resources Corporation)

[Asia Economy Reporter Moon Chaeseok] Korea Resources Corporation announced that it will actively lead the overseas expansion of domestic private companies by strengthening cooperation with Canadian government agencies related to mining, as Canada is a resource-rich country.

On the 4th, the Korea Resources Corporation said that it signed a memorandum of understanding (MOU) with CanNor, the Northern Development Agency under Canada's Ministry of Natural Resources, on the 3rd (local time) in Toronto, Canada.

Following the opening of the Canadian Private Support Center last year, this time they signed an MOU to strengthen cooperation in resource development.

At the signing ceremony, the Korea Resources Corporation announced that both parties agreed to strengthen cooperation in information, knowledge, and human exchange related to resource development.

They added that they held successive meetings with Canada's Ministry of Natural Resources, Investment Agency, and Northern Ontario Resource Development Agency to discuss cooperation plans for the advancement of domestic private companies.

Kwon Soonjin, Director of Overseas Planning at Korea Resources Corporation (acting head of the Overseas Resources Headquarters), said, "Through this MOU, we plan to provide high-quality investment policies and information necessary for private companies wishing to enter North America," adding, "We will especially focus on discovering promising mining projects centered on strategic minerals that have high domestic demand."

Korea imports major minerals such as iron ore, thermal coal, and copper from Canada. Twenty-five resource development projects by domestic companies including Korea Resources Corporation, POSCO International, and Korea Zinc are currently underway in Canada.

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