Korea Zinc Chairman Choi Yoonbeom at Davos: "Critical Minerals Supply Chain Requires Integrated System Approach"

Chairman Choi Yoonbeom of Korea Zinc Speaks at Davos Forum
Highlights Structural Risks in the Current Global Supply Chain
Proposes Integrated System as a Solution

Choi Yoonbeom, Chairman of Korea Zinc, presented the structural vulnerabilities of the global critical minerals supply chain and proposed long-term response strategies to address these issues at the World Economic Forum (WEF) held in Davos, Switzerland.

Choi Yoonbeom, Chairman of Korea Zinc, speaking at a Davos Forum session. Provided by Korea Zinc

According to Korea Zinc on January 26, Chairman Choi attended the World Economic Forum (WEF, also known as the Davos Forum), which took place from January 19 to 23, and served as an official speaker in a session titled "Strategic Partnerships and Investment in Critical Minerals."

Chairman Choi pointed out that securing a stable supply of critical minerals is essential across next-generation industries such as artificial intelligence (AI), semiconductors, advanced defense technology, and clean energy infrastructure. However, he diagnosed that the current global supply chain carries structural risks because production and refining capabilities are concentrated in specific regions.

To address these limitations, he suggested the need to establish an integrated industrial system that encompasses the entire process, from mining to processing and refining, recycling, energy, and logistics. He explained that a structural approach that considers the sustainability of the entire industry is required, rather than relying on short-term price signals.

He also mentioned the necessity of designing stable partnerships, such as offtake contracts based on long-term demand projections of more than 10 years. He emphasized that if price volatility undermines responsible investment and production, the supply chain itself could be destabilized. Therefore, critical minerals and refining infrastructure should be recognized and managed as capital-intensive, long-cycle industries, similar to the aerospace and defense sectors.

During the forum, Chairman Choi met with Fatih Birol, Executive Director of the International Energy Agency (IEA), to exchange policy views on building critical minerals supply chains. He also discussed potential cooperation in areas such as AI and secondary batteries with government officials and business leaders from the United States, Europe, and various Asian countries.

A Korea Zinc official stated, "We are continuously seeking strategies from a long-term perspective to enhance the reliability and sustainability of the global supply chain," and added, "Our commitment to contributing to supply chain stabilization through the establishment of an integrated system remains unchanged."

Meanwhile, this marks Chairman Choi's second consecutive attendance at the Davos Forum, and he is currently serving as one of the four members of the Mining and Metals Operating Committee under the Davos Forum.