South Korea and South Africa Enhance Cooperation in Critical Minerals Sector

President Yoon Suk Yeol of South Korea and President Cyril Ramaphosa of South Africa met in Brazil to discuss cooperation in critical minerals supply chains and regional security issues. They agreed to launch the Korea-Africa critical minerals dialogue at an upcoming conference and condemned North Korea’s military actions against UN resolutions.

South Korean President Yoon Suk Yeol and South African President Cyril Ramaphosa convened a meeting in Brazil during the Group of 20 summit to foster cooperation in critical minerals supply chains amidst escalating global supply chain instability. The dialogue aimed to enhance trade, investment, and energy relations between the two nations. President Yoon proposed the establishment of the Korea-Africa critical minerals dialogue, seeking President Ramaphosa’s support for this initiative, scheduled to launch at the Mining Indaba conference in February 2024. Both leaders also emphasized their intent to combat North Korea’s military actions, particularly its involvement in supporting Russia’s military endeavors in Ukraine, which they noted as violations of UN Security Council resolutions.

In recent years, global supply chains for critical minerals have faced significant challenges, prompting countries to seek collaborative partnerships to ensure their security and stability. South Korea, a leading economy with a strong demand for critical resources, and South Africa, rich in minerals, have identified the necessity for stronger ties in this sector. The meeting at the Group of 20 summit reflects a concerted effort to align strategies that not only bolster economic ties but also address geopolitical concerns, particularly regarding North Korea’s concerning military alliances.

The meeting between President Yoon Suk Yeol and President Cyril Ramaphosa marks a significant step towards enhancing bilateral relations between South Korea and South Africa, particularly in the critical minerals sector. By agreeing to initiate a dialogue focused on these resources and addressing regional security concerns, both nations are poised to strengthen their collaboration in facing global challenges. This partnership could prove essential in stabilizing supply chains and countering adversarial military actions from North Korea.

Original Source: www.socialnews.xyz