KIGAM and KOTRA Join Forces to Tackle Critical Mineral Supply Chain Crises

Combining Overseas Field Intelligence and Mineral Technology Capabilities
Supporting Diversified Sourcing Channels for Domestic Companies

The Korea Institute of Geoscience and Mineral Resources (KIGAM) and the Korea Trade-Investment Promotion Agency (KOTRA) are joining forces to respond to critical mineral supply chain crises. By connecting export controls and market information from overseas resource-rich countries with technical and policy analyses in the mineral sector, the two organizations will support domestic companies in diversifying their supply chains and expanding overseas.

KIGAM announced on August 11 that it had signed a “business agreement to strengthen cooperation in the critical minerals sector” with KOTRA at KOTRA's headquarters in Seoul on August 10.

To strengthen cooperation in the critical minerals sector, Lee Ikyun, President of KIGAM (right), and Kang Kyungsung, President of KOTRA, signed a business agreement. Provided by KIGAM

This agreement aims to enhance the ability to respond to global supply chain changes by combining KIGAM's expertise in critical mineral exploration, development, and utilization with KOTRA's overseas trade office network.

The two organizations will share information on production, export, and investment trends in critical minerals, as well as policies and export controls of key resource-rich countries and information on overseas resource development projects. KOTRA plans to leverage the local information obtained through its overseas trade offices and connect it with KIGAM's technical and policy analysis capabilities to identify potential supply chain risks early on.

If overseas supply disruptions occur, they will jointly analyze the impact on domestic industries and support companies in diversifying their raw material procurement sources and securing alternative supply chains. They will also share promising overseas project opportunities and local partnership needs, supporting the overseas expansion of domestic companies by utilizing KIGAM's technology in exploration, evaluation, beneficiation, refining, and recycling, as well as KOTRA's local network.

Kiwon Kwon, President of KIGAM, said, “By linking KOTRA’s global network with KIGAM’s full-cycle mineral resource technologies, we will enhance our ability to respond to supply chain crises and contribute to domestic companies’ entry into overseas critical mineral projects and the strengthening of national resource security.”

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