South Korea to participate in US-led minerals security partnership

South Korea has decided to participate in the US-led Minerals Security Partnership (MSP).
According to the Trade Ministry on Wednesday, the second Vice Foreign Minister Lee Do-hoon and Yoo Beop-min, director of raw materials industry policy at the Ministry of Trade attended the opening ceremony of the MSP held in Toronto, Canada on Tuesday.

The MSP is an international partnership for stable and diverse mineral supply chain, involving Korea, the US, Canada, Japan, Germany, UK, EU Commission, Finland, France, Australia and Norway. 

Participants have agreed that core minerals are essential to the development of the global economy and the conversion to renewable energy. They have also agreed to establish a transparent, open, safe and sustainable supply chain for the international community to respond to climate change.

They have also decided to apply high-level of ESG standards to core mineral mining, smelting, and recycling sectors to properly lead the public and private investment.

The government will strengthen the core mineral supply chain for future industries such as secondary cells and closely work with partner countries, including the US, to respond to the climate crisis.

(ANI/Global Economic)