Finance minister highlights importance of critical mineral recycling in supply chain stability
Deputy Prime Minister and Minister of Strategy and Finance Koo Yoon-chul leaves for Washington, D.C. through Incheon International Airport's Passenger Terminal 2 for the "G20 Finance Ministers and Central Bank Governors Meeting," Oct. 15, 2025. Yonhap
Finance Minister Koo Yun-cheol has emphasized the importance of critical mineral recycling to ensure global supply chain stability at an international gathering of top financial officials, his office said Tuesday.
In the opening session of the Finance Ministerial Meeting on Securing Critical Minerals Supply Chains held in Washington on Monday (local time), Koo underscored the need to reinforce global value chain linkages based on countries' comparative advantages and highlighted the importance of recycling critical minerals, according to the Seoul finance ministry.
The ministerial gathering brought together finance chiefs from the Group of Seven (G7) to discuss ways to secure and diversify supply chains for critical minerals, particularly rare earth elements. Korea attended the meeting as an observer, along with Australia, India and Mexico.
Koo also highlighted the need to establish platforms for cooperation that would enable companies to pursue collaboration centered on specific projects.
Throughout the discussions, participants shared a strong sense of urgency to swiftly address key vulnerabilities in critical mineral supply chains, the ministry said.
The United States, in particular, highlighted actions and investments it has already undertaken, as well as planned measures to build resilient, secure and diversified critical mineral supply chain, according to the ministry.
U.S. Treasury Secretary Scott Bessent expressed optimism that countries would pursue prudent "derisking" rather than "decoupling," noting a shared understanding of the need to address existing weaknesses in critical mineral supply chains, the ministry added.