Is Greenland still for sale?

Ma Young-sam

Here’s a quick quiz: What is the largest island in the world? The answer is Greenland. This icy landmass is roughly 10 times the size of the Korean Peninsula, yet home to only about 56,000 people. Over 80 percent of its surface is buried under ice up to three kilometers thick, making settlement and development extremely challenging.

And yet, U.S. President Donald Trump publicly on several occasions mentioned his wish to buy the island. What could possibly drive a world leader to covet such a frozen and seemingly barren land? There are possibly three reasons.

First, to understand Trump’s logic, look at a globe from above. If Russia or China were to launch missiles toward the U.S. mainland, the shortest flight path would cross the Arctic and directly over Greenland. Recognizing this strategic geography, the U.S. built Thule Air Base on Greenland’s northwestern tip in the early 1950s, at the height of the Cold War. It served as America’s first line of early warning against Soviet missiles.

Today, Thule has evolved into the Pituffik Space Base, integrating satellite tracking and missile defense systems. Greenland is no longer a remote outpost but a cornerstone of America’s northern security architecture. Trump’s remarks were not just a passing joke. It reflected a cold calculation about controlling a keystone of Arctic defense.

Second, as global warming accelerates, Greenland’s ice is literally melting, and with its loss, new Arctic sea routes are emerging. For decades, ships traveling from Northeast Asia to Europe had no choice but to pass through the Suez Canal. Soon, they may cut through northern passages around the Arctic, potentially shortening voyages by up to 40 percent. Such a shift could drastically reduce fuel costs, transit fees and insurance premiums. Transformation seems to be irresistible to global shipping and logistics companies.

Competition is already heating up. The Northeast Passage along Russia’s northern coast is now navigable during summer. As the ice retreats, the Northwest and even Transpolar Routes, which cross the top of the world, are opening. Arctic nations like the U.S., Canada, Russia and Norway, but also China, calling itself a “near-Arctic state,” are racing to stake their claims to this frontier. Even Germany and France have rolled out Arctic strategies, recognizing that melting glaciers are redrawing the global trade map.

Third, beneath Greenland’s ice lies another treasure: rare earth minerals, the lifeblood of modern technology. These materials are vital for semiconductors and electric vehicles, smart phones and missiles. China currently holds roughly half of global reserves, around two-thirds of mining output, while keeping almost 90 percent of refining capacity. When Washington imposed tariffs on Chinese goods, Beijing retaliated by restricting rare earth exports, hitting America in the Achilles’ heel.

Greenland, however, holds vast, untapped deposits. As the ice melts, mining is becoming more feasible. During my tenure as ambassador to Denmark, I visited Greenland several times. At one dinner hosted by a local dignitary, I noticed a rock displayed in his living room. He smiled and said, “That’s rare earth. It’s everywhere here.” In that moment, I realized Greenland was a “Treasure Island” buried in ice. Unsurprisingly, global mining companies are now watching it closely.

Korea’s first encounter with the Inuit people

For Koreans, Greenland has long seemed like a mythical land at the edge of the world. In the 1970s, Ambassador Chang Chi-ryang, then Korea’s envoy to Denmark, traveled there with fellow foreign diplomats. At the airport, local Inuit onlookers stared blankly at Western diplomats. But when they saw the Korean ambassador, they rushed forward and embraced him, pressing their faces affectionately against his. They felt that he had a face similar to themselves.

It took four more decades for a formal relationship to be initiated. In 2012, President Lee Myung-bak became the first Korean leader to visit Greenland, signing an MOU on Arctic and mineral resource cooperation and launching joint projects on green growth and maritime research. But political changes in Korea slowed momentum and the projects remained dormant. In 2016 the Korean government appointed a local lawyer as honorary consul in Greenland. His role has become crucial.

The race is on

The time for observation is over. The race for Arctic routes and resources is in full swing. Korea, highly dependent on foreign sources for critical minerals, imports 86 percent of its rare earth metals and 71 percent of its compounds from China. The U.S. faces similar challenges. Recognizing this, a U.S. firm called ‘Critical Metals’ recently acquired Greenland’s Tanbriz Mine, believed to contain one of the world’s largest rare earth deposits. Washington has also built alliances with Australia and Japan to secure non-Chinese supplies.

For Korea, the question is urgent. How can we join this race before it’s too late? Missing this window could relegate us to the sidelines of the next great resource competition.

To engage effectively, we must first understand Greenland’s political status. The island has been under Danish sovereignty since the 16th century, but gained the right to self-rule in 1979. Today, Greenland governs its domestic affairs, while Denmark manages defense and foreign policy. About half of Greenland’s budget still depends on Danish subsidies. This is a sign of both reliance and restraint.

Although Trump floated the idea of purchasing the island, Greenland’s future rests with its own people. Polls show that a large majority of residents oppose U.S. annexation. Opinion remains divided on separating from Denmark, with many favoring eventual independence. Some observers believe that independence could come sooner than expected.

For Korea, this means Arctic engagement must proceed through close coordination with both Greenland and Denmark. In an era of melting ice, Greenland is no longer a frozen wasteland. It is a new frontier of security, trade and energy transition. Diplomacy must move faster, but also smarter. We must act with agility and foresight. The ice is thinning and so is our window of opportunity. If Korea hesitates, others will claim the future. The time to move is now.

Ma Young-sam is a research Fellow at Asiatic Research Institute of Korea University in Seoul. He is South Korea’s former ambassador to Israel and representative to Palestine. He also served as ambassador to Denmark. The views expressed in this article are his own.