KOTRA, KIGAM Join Forces for Critical Minerals

The Korea Trade-Investment Promotion Agency (KOTRA) and the Korea Institute of Geoscience and Mineral Resources (KIGAM) have formed a partnership to secure critical minerals and diversify supply lines. On August 10, the two organizations signed a Memorandum of Understanding for Strengthening Cooperation in the Critical Minerals Sector at KOTRA’s headquarters in Seoul.

The partnership aims to improve the efficiency of securing critical minerals abroad and to bolster national supply chain security by leveraging KOTRA’s overseas network and KIGAM’s expertise in resource development.

The collaboration will focus on several key areas. First, KOTRA and KIGAM will share information on the production, export, investment, and overseas supply chain trends of critical minerals. Second, they will exchange data on overseas resource development projects and investments. Third, the two sides will organize seminars, forums, and joint research initiatives.

Additionally, they will jointly promote cooperation, such as Official Development Assistance (ODA), with overseas governments, institutions, and companies. Lastly, they will jointly identify and support supply chain challenges faced by companies.

This agreement was endorsed based on the mutual consensus among both institutions that it is crucial to respond to overseas crises through network and expertise combinations to stabilize the critical mineral supply chain. Under the terms of the agreement, the two entities plan to develop early-response capabilities for supply chain crises and continue to explore practical cooperation projects aimed at securing overseas critical minerals and diversifying supply chains.

KOTRA President Kang Kyung-sung emphasized, “In the era of technological hegemony, the importance of securing critical minerals is growing increasingly due to geopolitical instability and the spread of national centrism,” and added, “We will do our best to secure critical minerals and diversify supply lines by combining the expertise of the Korea Institute of Geoscience and Mineral Resources and the overseas organizational network of KOTRA.”