Lessons from the Middle East Conflict... Government to Establish New 'National Strategy' for Resource Security

Basic Plan for Resource Security to Be Finalized Next Month

Strengthening Critical Mineral Stockpiling and Supply Chains

Kim Jungkwan, Minister of Trade, Industry and Energy, is delivering welcoming remarks at the '1st Industry and Resource Security Strategy Meeting' held on the 25th in the main conference room of the Korea Trade Insurance Corporation, Jongno-gu, Seoul. Ministry of Trade, Industry and Energy.

The government is launching a full-scale public-private cooperative system to strengthen the industry's and resource security response framework, addressing vulnerabilities in energy and resource supply chains that have been exposed by the Middle East war. A mid- to long-term roadmap called the “Basic Plan for Resource Security,” which includes measures such as securing critical minerals, expanding reserves, and managing the entire supply chain cycle, will be finalized next month.

The Ministry of Trade, Industry and Energy held the “1st Industry and Resource Security Strategy Meeting” on the 25th at the Korea Trade Insurance Corporation in Seoul, presided over by Minister Kim Jungkwan.

This meeting was organized to fundamentally reinforce Korea’s industrial and resource supply chains, which have a high dependency on imports, in light of the Middle East war that has lasted more than 110 days. The government considers resource security not merely a governmental responsibility but a national task that requires joint efforts from both the public and private sectors, and has officially launched a cooperative governance structure involving experts and industry stakeholders.

For the first time, the “Resource Security Advisory Group”—comprised of experts in resource economics and security, international politics and trade, law and accounting, and market analysis, as well as representatives from major resource-related organizations and associations—participated in the meeting. Based on the “Special Act on National Resource Security” enacted last year, the advisory group will provide expert opinions throughout the process of formulating resource security policy.

On this day, the Ministry presented the direction for establishing the “Basic Plan for Resource Security” and the “Critical Minerals Stockpiling Plan,” and gathered feedback from experts. Participants agreed that the Middle East war has reaffirmed that resources are the foundation of manufacturing and the national economy. They also concurred that effectively managing supply chain bottlenecks—not simply securing resources—is a key factor in determining national industrial competitiveness and resource security.

Experts advised that in order to reduce Korea’s dependence on resource imports, it is necessary to diversify sources and import methods and to expand stockpiling capabilities to enhance crisis response. They also stressed the importance of managing the entire supply chain—from resource development to production, processing, and distribution—and emphasized the need for stronger policy support at the national level to secure competitiveness in upstream sectors such as overseas resource development.

Additionally, there were suggestions that to establish a sustainable resource security system, Korea should simultaneously strengthen governance, foster and train specialized personnel, and nurture and protect key technologies.

Minister Kim stated, “The global supply chain paradigm is shifting from Just-in-Time to Just-in-Case to prepare for emergencies. Resource security is a national task that must be approached from a long-term perspective. The government and private sector must combine their efforts in a spirit of community to build a resource security framework that remains unshakable under any circumstances.”

The Ministry conducted a resource security assessment and evaluation of major critical resources last year, and since April of this year, a working group of about 30 people—including research institutes, public organizations, and experts—has been developing the Basic Plan for Resource Security.

The government plans to finalize the “Basic Plan for Resource Security,” a mid- to long-term roadmap for the field, in July after reflecting on the opinions presented at the meeting and undergoing deliberation by the Resource Security Council.

This content was produced with the assistance of AI translation services.