Setopia Holds Appointment Ceremony for Domestic Rare Earth Strategic Advisory Committee

Setopia announced on the 7th that it held an appointment ceremony for an advisory committee composed of domestic experts at Onoma Hotel located in Yuseong-gu, Daejeon on the 5th, to advance the rare earth industry and technology, including the development of independent domestic rare earth manufacturing and recycling technologies.

The advisory committee consists of four experts, including domestic rare earth engineering PhDs and manufacturing equipment design specialists.

The advisors focus on the effective utilization of rare earth materials, refining and manufacturing, and recycling and reduction production. They hold regular monthly meetings with Setopia and participate in domestic and international seminars to provide comprehensive advice on ▲technology for separation and refining of rare earth ores ▲technology for rare earth smelting, refining, metal manufacturing, and alloy production ▲technology for permanent magnet manufacturing ▲recycling and reduction production of waste permanent magnets ▲research and development of localization technologies and patent applications related to various manufacturing facilities and equipment. Additionally, demonstration projects through future research services are planned.

Setopia established a joint venture, GCM (Global Critical Material Limited, hereinafter GCM), in May with Vietnam Rare Earth JSC (hereinafter VTRE), a rare earth raw material company based in Vietnam, to build a domestic self-reliant rare earth business value chain and promote technological advancement in the future rare earth industry. A corporate briefing session outlining the business purpose and direction aimed at the rare earth business and strategies for corporate growth through new growth engine projects is scheduled for the 12th.

A Setopia official stated, “We expect the company’s competitiveness in the rare earth business to grow significantly based on advice from domestic experts in related fields,” adding, “This marks the beginning of our efforts to contribute to the development of the domestic rare earth industry and technology through the preparation of independent rare earth manufacturing technology and waste permanent magnet reduction production technology, while securing the company’s specialized competitiveness.”