Government Joins US-Led Critical Minerals Security Partnership

[Asia Economy Reporter Yoo In-ho] The government has expressed its intention to participate in the Mineral Security Partnership (MSP) led by the United States.

According to the Ministry of Foreign Affairs and the Ministry of Trade, Industry and Energy on the 15th, Lee Do-hoon, Vice Minister of Foreign Affairs, and Yoo Beop-min, Director General of the Resource Industry Policy Bureau at the Ministry of Trade, Industry and Energy, attended the launch ceremony of the Mineral Security Partnership held in Toronto, Canada, yesterday (local time), hosted by Jose Fernandez, U.S. Deputy Secretary of State for Economic Affairs.

The Mineral Security Partnership is an international cooperation partnership aimed at stabilizing and diversifying the supply chain of critical minerals.

Participants include South Korea, the United States, Canada, Japan, Germany, the United Kingdom, the European Union (EU) Commission, Finland, France, Australia, and Norway.

At the launch ceremony, attendees agreed that critical minerals are very important for the development of the global economy and the transition to clean energy, and shared the view that a transparent, open, secure, and sustainable supply chain of critical minerals must be established to address climate change in the international community.

They pledged to apply high-level ESG (Environmental, Social, and Governance) standards in the mining, refining, and recycling sectors of critical minerals and to guide government and private investments accordingly.

The government plans to closely cooperate with participating countries, including the United States, to strengthen the supply chain of critical minerals, which are the foundation of future industries such as secondary batteries, and to respond to climate change.

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