Speaking at the Korea-Central Asia Business Summit in Seoul, Lee said the region's rich reserves of lithium, uranium and other critical minerals could be combined with South Korea's advanced manufacturing capabilities to compete in global markets.
"We need to strengthen full-cycle cooperation in critical minerals, going beyond simple raw-material trade to exploration, smelting, high-value-added materials processing and finished-product manufacturing," Lee said.
He added the government would support joint research and development and training for specialists through rare-metals centers being established at key locations in Central Asia. He also called for closer infrastructure cooperation in transportation, energy and logistics, describing South Korean companies as well suited to participate in the region's infrastructure development.
Lee also urged the two sides to broaden trade and investment into consumer goods, biotechnology and digital industries. Seoul plans to establish "Korea Desks" in all five Central Asian countries to help South Korean companies address difficulties in doing business there.
The business gathering followed the inaugural summit attended by the presidents of Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan and Tajikistan as well as business leaders. The meeting marked the elevation of a regional cooperation framework that began with the Korea-Central Asia Cooperation Forum in 2007 from the ministerial to the leaders' level.
Lee also presented each of the five Central Asian leaders with Samsung Electronics' latest foldable smartphone to commemorate the summit. Cheong Wa Dae said the handset was selected to symbolize South Korea's commitment to mutually beneficial and future-oriented cooperation with Central Asia. Each phone was engraved with the recipient leader's name in his country's own language as a gesture of respect.
The leaders' spouses received South Korean beauty products and cosmetics devices. Cheong Wa Dae said the gifts were intended to showcase the country's industrial technology and consumer products while helping pave the way for South Korean companies to expand into the rapidly growing Central Asian market.
AJP Takeaways
- President Lee Jae Myung called for a "new Silk Road" linking South Korea and Central Asia through trade, infrastructure and technology.
- Lee proposed full-cycle cooperation in critical minerals, from exploration and refining to advanced materials and finished products.
- The inaugural Korea-Central Asia Summit elevated regional cooperation to the leaders' level, with Seoul also highlighting Korean technology through symbolic gifts.
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