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South Korea Expands Economic Ties for Critical Minerals with Central Asia

by admin477351

Amid a global push for securing critical minerals, South Korea is strengthening its ties with Central Asian nations, following the first-ever South Korea–Central Asia summit held in Seoul. This collaborative effort, which produced over 70 agreements and memorandums, aims to solidify South Korea’s supply chain for essential minerals vital to its automotive, electronics, battery, and energy sectors, while assisting Central Asian countries in advancing beyond raw material exports.

The summit, which will now occur biennially, established the C5+1 forum for industry ministers, emphasizing the importance of critical minerals. South Korea has suggested integrating Central Asia’s rich mineral deposits with its own technological expertise in exploration, processing, and advanced manufacturing. This cooperation is set to span the entire supply chain, from discovering new deposits to mining, processing, and creating high-value goods.

Part of the initiative includes the development of rare metals research and training centers across the region. Uzbekistan has put forward a proposal to create an investment alliance focused on critical minerals and to establish processing clusters that encompass exploration, mining, and production. Meanwhile, Kazakhstan is offering collaboration in areas such as rare metals, nuclear and clean energy, artificial intelligence, and infrastructure, further strengthening its strategic partnership with South Korea.

Other Central Asian countries, including Kyrgyzstan and Tajikistan, are also keen on engaging in mineral cooperation, particularly in the fields of antimony and tungsten. Beyond minerals, South Korea is broadening its involvement in transport and infrastructure projects throughout Central Asia.

This growing interest from South Korea comes as major global players like China, the United States, the European Union, and Japan also seek to enhance their access to Central Asia’s critical mineral resources. Central Asian governments are increasingly focused on attracting investments that will lead to the development of local processing facilities and industrial production, moving away from a reliance on merely exporting raw materials.

The ongoing collaboration is set to continue with the next South Korea–Central Asia summit scheduled for 2028 in Kazakhstan, further cementing the partnership and expanding economic opportunities in the region.

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