What's Happening?
Japan and South Korea are implementing comprehensive frameworks to secure access to critical minerals essential for their export-driven economies, particularly in semiconductors and electronics. Both countries have established economic security frameworks linking
mineral access to economic growth. Japan has created an economic security section within its National Security Secretariat and enacted the Economic Security Promotion Act. South Korea has revamped its National Security Council, focusing on emerging security issues. These strategies aim to reduce dependence on China, which dominates the critical mineral supply chain, and to diversify imports through recycling and public-private partnerships.
Why It's Important?
Securing critical minerals is vital for Japan and South Korea to maintain their technological sovereignty and economic security. As China controls a significant portion of the global mineral supply chain, these countries face vulnerabilities in their industries. By developing resilient supply chains and diversifying sources, Japan and South Korea can mitigate risks associated with mineral shortages and geopolitical tensions. This approach not only strengthens their economies but also sets a precedent for other nations seeking to secure critical resources.
What's Next?
Japan and South Korea will continue to enhance their mineral security strategies through bilateral and multilateral cooperation, focusing on capacity-building in partner countries. They aim to expand recycling initiatives and invest in alternative supply chains to further reduce dependence on China. Both countries are also exploring opportunities in deep-sea mining to secure additional mineral resources. These efforts are expected to bolster their economic security and technological capabilities in the long term.
