Acting President Choi Sang-mok, who is also the Deputy Prime Minister and Minister of Economy and Finance, is presiding over the meeting to check the preparation status of the Asia-Pacific Economic Cooperation (APEC) summit held at the HICO in Gyeongju, North Gyeongsang Province, on Nov. 20. /Courtesy of Ministry of Economy and Finance

Shin Sang-mok, the acting president and Minister of Economy and Finance, said on the 21st, “We will devise ways to rationalize regulations on materials previously recognized as waste.”

Acting Minister Shin held a meeting titled "Core Mineral Recycling Industry" at the production site of SungEel HiTech in Gunsan, North Jeolla Province, and noted, “We will support the expansion of infrastructure for the recycling industry.”

Participating corporations in the meeting included SungEel HiTech, Korea Zinc, POSCO HY Clean Metal, Ecopro, COSMO Chemical, the Korea Metal Recycling Industry Association, and the Korea Mine Reclamation Corporation.

Acting Minister Shin said, “The core mineral recycling industry is an important sector that will play a key role in diversifying imports of core minerals and stabilizing the supply chain of core minerals.” He added, “To support this, the government plans to establish a recycling industry cluster and actively review support measures for creating a recycling industry ecosystem.”

The government plans to announce specific policy directions to promote the core mineral recycling industry at the 4th Supply Chain Stabilization Committee meeting scheduled for the end of this month.