South Korea and Central Asia Hold First Multilateral Ministerial Meeting on Supply Chain Cooperation

South Korea and five Central Asian countries held their first multilateral ministerial meeting to discuss cooperation in supply chains for critical minerals, including lithium and rare earth elements. The Ministry of Trade, Industry and Energy announced that the '1st Korea-Central Asia (C5+1) Ministerial Meeting' took place in Seoul on September 14.

Minister Kim Jeong-kwan and the ministers from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan agreed to strengthen collaboration in three key areas: enhancing trade and industrial infrastructure, establishing a critical mineral supply chain, and fostering technology cooperation and future talent development.

To begin, they plan to expand the participation of South Korean companies in the development of complex industrial parks, smart infrastructure, and plant modernization projects in Central Asia. The aim is to broaden cooperation beyond simple trade to enhance industrial foundations.

In the critical minerals sector, they will combine Central Asia's mineral resources, such as lithium and rare earths, with South Korea's advanced processing and material technologies. This collaboration will encompass the entire supply chain, from mineral extraction and raw material imports to local processing and the production of high-value-added materials and finished products.

Additionally, South Korea will support the smart transformation of local factories in Central Asia by leveraging its smart factory and manufacturing AI and data capabilities. This initiative aims to increase the presence of South Korean manufacturing equipment and technology in the region and promote exchanges among young technical talents.

Minister Kim stated, "Let us pave the way for a new advanced industrial ecosystem that leads to greater leaps in Eurasia by leveraging South Korea's advanced technology and manufacturing capabilities alongside Central Asia's vast growth potential." He emphasized the hope that the ministerial meeting would serve as a platform for discovering and developing practical projects that benefit businesses and citizens in each country.