Trade Minister Yeo Han-koo speaks during a meeting hosted by the American Chamber of Commerce in Korea at the Grand Hyatt Seoul, Thursday. Yonhap
Trade Minister Yeo Han-koo attended a meeting hosted by the United States of top trade officials of major economies Friday to discuss ways to expand cooperation on critical mineral supply chains amid heightened geopolitical uncertainties, Yeo's office said.
The virtual meeting, hosted by the office of the U.S. Trade Representative (USTR), brought together trade ministers of South Korea, the U.S., Canada, the European Union, Japan, Mexico and others to discuss measures to stabilize the global supply chains for critical minerals, according to the Ministry of Trade, Industry and Resources.
The U.S. earlier held meetings of finance and foreign ministers of its major trading partners on critical mineral supply chains in January and last week, amid its repeated calls on its allies to join a U.S.-led critical minerals trading bloc to counter China's supply chain clout.
In Friday's meeting, Yeo conveyed Seoul's support for multilateral cooperation aimed at stabilizing supply chains amid growing geopolitical uncertainties, while calling for broader participation in the initiative by more countries in a way acceptable to market participants, according to the ministry.
The ministry said it will work to deepen Seoul's strategic cooperation with its partners to stabilize the country's critical mineral supply chains, which play a significant role for advanced industries, and strengthen its resilience to possible disruptions.
The ministry will also provide active support to efforts by private companies here to secure such materials, it added.
Source: Korea Times News
