Korea, Japan discuss stronger mineral resources cooperation amid global competition

Industry Minister Kim Jung-kwan speaks during a policy briefing to President Lee Jae Myung in Sejong, Wednesday. Yonhap

Korea and Japan held their second round of mineral resources cooperation dialogue Wednesday to discuss ways to strengthen bilateral cooperation amid intensifying global competition over critical resources, Seoul's industry ministry said.

At the meeting, the two sides focused their discussions on a joint response to the recent fall in copper treatment and refining charges, and bolstering bilateral cooperation in multilateral frameworks, such as the Minerals Security Partnership, according to the Ministry of Trade, Industry and Resources.

The dialogue was attended by officials from the Seoul ministry and Japan's Ministry of Economy, Trade and Industry.

The two sides also explored ways to enhance cooperation on the joint development and production of critical minerals in third countries.

The resources dialogue between Seoul and Tokyo was launched in February as part of efforts to bolster supply chain cooperation between the two countries as they share a similar industrial structure centered on advanced industries, such as semiconductors and batteries, according to the ministry.

The ministry said Seoul seeks to expand critical mineral cooperation with like-minded countries amid the increasing bloc formation of supply chains led by the United States and China.