Yun Jong Jeon, President of KIAT: "Mineral Technology Cooperation Center to Open in Vietnam Next Year"

The Korea Institute for Advancement of Technology (KIAT, President Yun Jong Jeon) will open a Core Minerals Supply Chain Technology Cooperation Center (hereinafter "the Center") in Hanoi, Vietnam next year.

Yun-Jong Jeon, President of the Korea Institute for Advancement of Technology

The Center is being established as part of an Official Development Assistance (ODA) project by the Ministry of Trade, Industry and Energy, and will be equipped with research facilities, ore dressing (mineral classification) and smelting (metal extraction) laboratories, analysis rooms, and related equipment. Once the Center is established, KIAT plans to: ▲ set up local training programs for professionals handling minerals; ▲ launch technology cooperation programs for demonstration research aimed at increasing the added value of minerals; and ▲ operate an investment council for mineral companies. Vietnam is a resource-rich country, ranking fifth in the world for rare earth reserves, third for bauxite (the raw material for aluminum), and fourth for tungsten. If joint research and corporate collaboration between Korea and Vietnam in the field of core minerals expands, it is expected to contribute to the future stabilization of industrial supply chains.

Yun Jong Jeon, President of KIAT, said, "In order to reduce external dependence in advanced industries and enhance manufacturing competitiveness, stabilization of the core minerals supply chain is essential. We will work to ensure that the Center established in Hanoi becomes a key hub for solid supply chain cooperation between the two countries."

In line with President Jaemyung Lee’s state visit, KIAT held the Korea-Vietnam Core Mineral Cooperation Strategy Forum on April 24 (local time) at the InterContinental Hotel in Hanoi. The Korea Institute of Geoscience and Mineral Resources and the Vietnam Institute of Mining and Metallurgy Science and Technology (VIMLUKI) presented joint technology cooperation plans, while the Korea Overseas Mineral Resources Association and the Vietnam Mining Science and Technology Association (VIMA) shared strategies on areas of desired corporate collaboration. Hanoi University of Mining and Geology (HUMG) then provided an overview of Vietnam’s core mineral reserves.

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