South Korea and Mongolia have reached an agreement to enhance cooperation in the supply chain of rare metals. The two countries will work together for the safe and sustainable supply of these strategic resources.
In a statement made by the Ministry of Foreign Affairs of Mongolia, it was stated that the two countries aim to increase cooperation in the fields of exploration, extraction and processing of rare metals. In this context, issues such as technology transfer, investment opportunities and expertise sharing will be emphasized. Rare metals play a critical role especially in the production of high-tech products and green energy technologies. South Korea has decided to strengthen cooperation with Mongolia in order to reduce its dependence on these metals and diversify its supply chain. Mongolia, on the other hand, aims to diversify its economy and increase international cooperation by utilizing its rich natural resources. This cooperation between the two countries is seen as both economically and strategically important.