Korea, EU agree to deepen critical minerals, supply chain ties

South Korea and the European Union agreed Tuesday to expand bilateral cooperation on critical minerals and supply chain security, holding a virtual committee session on economic security and emerging trade issues, according to The Korea Times.

The accord reflects growing urgency among both governments to manage their high dependence on critical mineral imports, as global supply chain volatility and intensifying technology competition among major economies reshape trade priorities worldwide.

Vice Trade Minister Park Jung-sung led South Korea's delegation in the second round of the bilateral special committee on economic security and emerging trade issues, with EU counterpart Denis Redonnet joining the session virtually, The Korea Times reported.

The two sides agreed to cooperate on diversifying supply chains for critical minerals, the newspaper said. Both South Korea and the EU carry significant exposure from heavy dependence on imported critical materials essential to advanced manufacturing sectors.

Stockpiling and recycling of critical minerals were identified as priority cooperation areas, according to the report. Coordinated resource management across both economies could buffer against future supply disruptions.

Park also called on the EU to consider granting a grace period for the implementation of its battery regulation, The Korea Times reported, noting that Korean companies play a substantial role in supplying European battery supply chains.

The meeting underscored the two governments' shared interest in technology security alongside supply chain resilience, as competition among major economies over critical materials continues to intensify, the newspaper said.

Both governments framed critical minerals and supply chain resilience as central shared priorities as global trade pressures continue to mount, The Korea Times reported.