President Moon Attends Critical Minerals Supply Chain Meeting... Emphasizes Importance of 'Supply Chain Stability'

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in, who is on a state visit to Australia, attended the 'Korea-Australia Critical Minerals Supply Chain Meeting' during his Sydney schedule on the afternoon of the 14th, where he discussed ways to expand cooperation on critical minerals between the two countries.

The meeting was attended by Simon Kreyn, Chairman of the Korea-Australia Business Cooperation Committee (AKBC); Ian Gandel, Chairman of ASM; Steven Grocott, CEO of QPM; Joe Kadarabek, CEO of Cobalt Blue; and Tom Seymour, CEO of PwC Australia. ASM is an Australian company producing rare earth elements, QPM produces nickel and cobalt, Cobalt Blue produces cobalt, and PwC Australia is a multinational consulting firm providing consulting services on critical minerals and related fields.

In his remarks at the meeting, President Moon emphasized the importance of a stable supply chain highlighted by the COVID-19 pandemic and called for expanding cooperation between Australia, which possesses critical minerals, and Korea, which has high demand for critical minerals in industries such as secondary batteries and electric vehicles, to accelerate the stabilization of the global supply chain.

He also evaluated the ongoing diverse cooperation between companies of both countries, including supply contracts and investments, and stated that government-level cooperation would be further strengthened.

The Australian business representatives attending the meeting mentioned that the two countries' companies have built considerable trust over a long period in the mineral resources sector and expressed their hope to expand cooperation with Korean companies in the future.

The Blue House explained the significance of the meeting by stating, "Despite the recent strengthening of quarantine measures by the Australian government, which prevented an economic delegation from accompanying domestically, we separately invited local critical minerals-related businesspeople in Australia to provide an opportunity for direct communication with our head of state," adding, "This is an example showing the government's interest and priority in securing stable supply chains for key items such as critical minerals."

Meanwhile, based on the discussions held on this day, the Ministry of Trade, Industry and Energy and the Australian Department of Industry, Science, Energy and Resources plan to further strengthen strategic cooperation in the critical minerals sector between the two countries through channels such as the 'Korea-Australia Critical Minerals Cooperation Dialogue.'

This content was produced with the assistance of AI translation services.