The Export-Import Bank of Korea said on the 3rd it will create a fund worth 250 billion won to invest in critical minerals and energy through the supply chain stabilization fund. The supply chain stabilization fund will commit 100 billion won, and 150 billion won will be raised from public and private capital. The fund's commitment ratio was raised to 40% from 20%.
The fund will be invested across stages such as production, processing, transportation, and storage in the critical minerals and energy sectors. The Export-Import Bank of Korea said it expects the fund to contribute to supply chain stabilization by securing basic materials for key industries and ensuring stable supplies of energy sources.
Investment targets also include refining of critical minerals such as rare earths; resource recovery that extracts lithium, nickel, and cobalt from spent batteries; and air and maritime transport services needed for resource transportation and storage.
After selecting an asset manager and undergoing review by the fund management deliberation committee, The Export-Import Bank of Korea plans to complete the fund's creation in the first half of next year. Part of the revenue attributable to The Export-Import Bank of Korea will be paid to the manager as an incentive.