Minister of Industry Expands Cooperation with IEA Member Countries to Stabilize Mineral Supply Chains

Minister Bang Moon-kyu of the Ministry of Trade, Industry and Energy attended the International Energy Agency (IEA) High-Level Meeting on Critical Minerals and Clean Energy held in Paris, France on the 28th (local time), emphasizing cooperative efforts to stabilize supply chains.

[Image source=Yonhap News]

On the 29th, the Ministry of Trade, Industry and Energy announced that Minister Bang expressed support for the IEA's efforts to stabilize critical minerals and highlighted the importance of technological innovation, resource recycling, and job creation in his opening remarks. He also held bilateral meetings with energy ministers from major countries such as the United States, Japan, and Australia, as well as with the IEA Secretary-General and the French Minister of Economy, who attended the IEA Critical Minerals High-Level Meeting.

In his meeting with Jennifer Granholm, U.S. Secretary of Energy, Minister Bang agreed to mutually cooperate on energy-related issues between the two countries, including nuclear power, and to seek a future-oriented cooperative relationship in the energy sector. During the meeting with Yasutoshi Nishimura, Minister of Economy, Trade and Industry of Japan, they agreed to closely cooperate to implement the agreements between the Korean and Japanese leaders and to strengthen cooperation on bilateral and global trade issues related to advanced industries and critical minerals.

Furthermore, in the meeting with Madeleine King, Australian Minister for Resources and Northern Australia, Minister Bang requested the Australian government's support and cooperation to ensure that Korean companies' critical mineral investment projects in Australia proceed without disruption. In the meeting with Arifin Tasrif, Minister of Energy and Mineral Resources of Indonesia, they agreed to closely cooperate to create significant synergy between resource-rich Indonesia and technologically advanced Korea.

In the meeting with Fatih Birol, IEA Executive Director, they reached a consensus on the importance of energy transition not only through renewable energy but also through nuclear power and hydrogen. Korea supports the IEA's discussions and working group activities related to critical minerals that contribute to securing a stable supply chain and will continue to actively participate. In the meeting with Bruno Le Maire, French Minister of Economy, they sought amicable solutions regarding the ongoing reform of France's electric vehicle subsidy system and agreed to strengthen cooperation on carbon-free energy, including aerospace and nuclear power.