First National Quality Certification Standards Established for Recycled Platinum, Palladium, and Rhodium Products

Platinum Group Metals Recycling Market Worth $12 Billion Globally
Domestic Resource Recycling Market Expected to Triple by 2040

The National Institute of Technology and Standards under the Ministry of Trade, Industry and Energy announced on November 27 the establishment and publication of quality certification standards for Good Recycled (GR) products made from three platinum group metals-platinum (Pt), palladium (Pd), and rhodium (Rh)-to ensure a stable supply chain of national critical minerals and to lay the foundation for the resource recycling industry.

Platinum, palladium, and rhodium are key catalysts in various chemical reactions and essential raw materials for advanced new material industries such as aircraft engines. Due to their significant impact on the overall economy, they are designated as national critical minerals under the Special Act on National Resource Security. The domestic market for critical mineral recycling is projected to grow nearly threefold, from 6.7 trillion won in 2024 to 21.1 trillion won by 2040.

Until now, domestic mineral recycling companies have faced challenges in gaining product trust and entering the market due to the absence of clear quality standards and a credible testing and certification system. To address this, the National Institute of Technology and Standards, together with the Korea Resource Circulation Industry Certification Institute, has established new GR certification standards for recycled platinum, palladium, and rhodium products, reflecting industry feedback. The new standards specifically define requirements for metal purity, impurity tolerance, testing methods, and labeling.

With the introduction of these quality certification standards, it is now possible to obtain nationally recognized certification for recycled metals, which is expected to enhance the reliability of related product quality and strengthen the overall competitiveness of the recycling industry through linkage with ESG management. As of this year, the global market for platinum, palladium, and rhodium is valued at 32 billion dollars, with the recycling market estimated at approximately 12 billion dollars.

Kim Daeja, Director of the National Institute of Technology and Standards, stated, "The establishment of these standards addresses the gap in quality certification for critical mineral recycling raised by the industry," adding, "We will continue to strengthen communication with the industry, expand standards for recycled metals, and actively promote the recycling of critical minerals and the transition to a circular economy."

The full text of the GR quality certification standards for 'recycled platinum, palladium, and rhodium' is available for free on the website of the Korea Resource Circulation Industry Certification Institute.

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