'First Specialized Association in Korea' Korea Rare Earth Industry Association Launched: "Supply Diversification and Technological Independence"

Industry Leaders LS, POSCO, Hyundai Join Forces with Government, Academia, and Research Institutes
Enhancing Resource Security and Competitiveness in Advanced Industries Expected

The Korea Rare Earth Industry Association (KRIA), the nation's first association specializing in rare earths, held its inauguration ceremony and was officially launched on the 22nd at the Nine Tree Premier Lokaus Hotel in Yongsan-gu, Seoul.

At the founding ceremony of the Korea Rare Earth Industry Association (KRIA) held on the 22nd at the Nine Tree Premier Lokaus Hotel in Yongsan-gu, Seoul, officials including Yoon Changhyun, Director General of Resource Industry Policy at the Ministry of Trade, Industry and Energy; Gu Bonggyu, KRIA Chairman; Lee Eonju, Member of the National Assembly; and Kwon Ikyun, President of the Korea Institute of Geoscience and Mineral Resources (third from the left in the front row) are posing for a commemorative photo. Provided by LS Cable & System.

The association was established with the goal of leading the growth of the rare earth industry and establishing a foundation for localization, thereby strengthening the competitiveness of advanced industries. More than 20 major companies, universities, and research institutes-including LS Cable & System, LS Eco Energy, POSCO International, Hyundai Materials, Seoul National University, Hanyang University, the Korea Institute of Industrial Technology, and the Korea Institute of Geoscience and Mineral Resources-participated in the launch.

Approximately 50 figures from politics, industry, and academia attended the inauguration ceremony, including Gu Bonggyu, CEO of LS Cable & System and inaugural chairman, Lee Eonju, Member of the National Assembly from the Democratic Party, and Yoon Changhyun, Director General of Resource Industry Policy at the Ministry of Trade, Industry and Energy.

Rare earths are strategic minerals essential to advanced industries such as electric vehicles, wind power generation, defense, and aerospace, and are often referred to as the "vitamins of advanced industries." As China has recently tightened its export controls, global competition to secure supply chains has intensified, making the association's presence and role increasingly important. In response, the association announced that it will focus on building a stable rare earth supply chain, fostering related industry ecosystems such as metals and permanent magnets, jointly proposing policies and strengthening research and development, as well as discovering and nurturing specialized talent.

Gu Bonggyu, the inaugural chairman, stated, "Diversifying rare earth supply chains and achieving technological independence are key to the competitiveness of advanced industries," and added, "We will realize this through cooperation among industry, academia, research institutes, and government."