Chair Choi Yoon-beom of Korea Zinc said, "We will build a stable strategic mineral supply chain and create a success model for economic security between Korea and the United States."
According to the business community on the 30th, Chair Choi attended the Asia-Pacific Economic Cooperation (APEC) CEO roundtable held at the Hwarang Hall of the Gyeongju Arts Center on the 29th and said, "Korea Zinc has an alternative to solve the strategic mineral issue."
The APEC CEO roundtable was prepared to carry forward, in greater depth, the discussions covered at the "Korea-U.S. business roundtable" held at the end of Aug. during President Lee Jae-myung's visit to the United States. The main topics are ▲ artificial intelligence (AI) ▲ aerospace and defense industry ▲ strategic minerals ▲ shipbuilding ▲ energy.
At the event, Choi said, "Facing the reality that China today is weaponizing strategic minerals, we realize that trust in the free market and the golden age of free trade will not easily return," and noted, "It is regrettable, but it is an opportunity for the United States and its allies to strengthen cooperation and build a more robust supply chain."
He continued, "Korea Zinc, which has established global leadership in nonferrous metals by building a supply chain independent of China for more than 50 years, believes it has an almost unique alternative to resolve the strategic mineral issues jointly faced by Korea and the United States," and emphasized, "We will tackle this task with a sense of duty and seriousness."
Korea Zinc produces not only base metals such as zinc, lead, and copper and precious metals such as gold and silver, but also rare metals known as strategic minerals, including antimony, indium, bismuth, and tellurium.
Since June, it has been exporting antimony—an essential material for the defense industry—directly to the United States. According to the company, it helped relieve the pressure on U.S. defense industry companies that were on the brink of production difficulties due to China's export controls.
At the end of Aug., as part of President Lee Jae-myung's economic delegation to the United States, the company signed a memorandum of understanding (MOU) on supplying the strategic mineral germanium to Lockheed Martin, the world's No. 1 defense company, on site in the United States. Recently, it also announced a facility investment plan to produce another strategic mineral, gallium. Both strategic minerals are essential materials for high-tech industries that China has previously subjected to export controls.
Choi explained, "We will continue to build a stable, transparent, and safe supply chain to create a success model for economic security between Korea and the United States and help further strengthen the alliance."