Government Launches Joint Response System to U.S. Section 232 Critical Minerals Measures

2nd Resource Security Council Convened
Impact Analysis and Industry Feedback Gathered Through Public-Private Task Force

Kim Jeong-Kag, Minister of Trade, Industry and Energy (second from right), is delivering a greeting at the 2nd Resource Security Council held on the 20th at the Korea Trade Insurance Corporation in Jongno-gu, Seoul. Photo by Ministry of Trade, Industry and Energy

The government is accelerating inter-ministerial consultations to respond to the U.S. Trade Expansion Act (Section 232) measures on critical minerals and changes in global supply chain discussions.

On the afternoon of January 20, the Ministry of Trade, Industry and Energy held the 2nd Resource Security Council at the Korea Trade Insurance Corporation, presided over by Minister Kim Jeong-Kag, to share and review the U.S. Trade Expansion Act Section 232 measures on critical minerals announced on January 15, as well as trends in discussions regarding critical minerals agreements.

To swiftly respond to changes in resource security, the government has established a working-level meeting of director-general rank under the Resource Security Council and is operating a coordination system among relevant ministries. This body is responsible for sharing information and positions among ministries and developing response strategies for strategic issues directly linked to the procurement of critical minerals and the stability of supply chains.

The government plans to closely gather industry opinions using the expanded "Public-Private Joint Industrial Security Supply Chain Task Force" to analyze the impact of major countries' critical mineral supply chain consultations on domestic industries. This task force was launched on January 8 and includes major companies by sector and relevant associations.

Minister Kim stated, "Recent discussions on critical mineral supply chains could have a broad impact on our industries, so a meticulous response is necessary," adding, "We will establish a comprehensive response system through close consultation with relevant ministries."