The South Korean government has begun to assess the situation regarding China’s export controls on key minerals, including tungsten, in response to the tariffs imposed by the United States Trump administration. According to the government’s assessment, due to domestic stockpiles and public reserves, there is no immediate supply chain crisis expected.
On the 5th, the Ministry of Trade, Industry and Energy held an 'industrial supply chain assessment meeting' chaired by Na Seong-hwa, director of industrial supply chain policy, at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. At the meeting, they reviewed the domestic supply and demand trends and impacts resulting from the five items, including tungsten and molybdenum, that were announced by China’s Ministry of Commerce the previous day.
China's recent export controls involve five items: tungsten, molybdenum, indium, bismuth, and tellurium. These controls primarily target 25 products and related technologies that are mainly used in semiconductors and displays.
The recent export controls by China are not an outright ban but rather an addition of an export permit process. Like the previously controlled items, graphite and gallium, imports into South Korea can take place after obtaining an export permit from China’s Ministry of Commerce (legal deadline: 45 days).
A ministry official noted, 'According to the assessment, it has been analyzed that we can respond through domestic private stock and public reserves, as well as domestic production,' adding that 'to prevent future supply and demand disruptions, we will respond meticulously in close cooperation with the private sector.'