This undated file photo shows the headquarters of the Ministry of Trade, Industry and Energy. (Image courtesy of Yonhap)
SEOUL, May 16 (Korea Bizwire) — South Korea’s industry ministry said Thursday it has agreed with Chile to seek broader ties in the supply chain of key minerals crucial to cutting-edge industries, including batteries.
The agreement was reached with the Chilean Ministry of Mining during a meeting held in Santiago earlier this week to discuss a stable supply of resources, including lithium, according to the Ministry of Trade, Industry and Energy.
During the meeting, the two countries shared their respective strategies in the key mineral sectors, including South Korea’s eco-friendly technologies to extract resources from mineral residue.
Chile boasts the world’s top reserve of lithium, estimated at 9.3 million tons, the ministry noted, emphasizing the importance of expanding cooperation with the South American nation.
Currently, South Korea’s top battery companies, including LG Energy Solution Ltd. and Samsung SDI Co., import lithium carbonate from Chile.
On the margins of the event, the two countries also arranged meetings among South Korea’s trade firms, including LX International Corp. and POSCO Holdings Inc., along with Chilean firms, such as SQM and ENAMI, the ministry said, to expand bilateral trade and technology development cooperation.
(Yonhap)
