Photograph) Koo Bon-kyu, CEO of LS Cable & System (right), and Nguyen Hoang Long, deputy minister of industry and trade, at a meeting held at the Ministry of Industry and Trade in Hanoi, Vietnam, on the 22nd


■ LS Eco Energy meets with Vietnam's deputy minister of industry and trade
■ Vietnam gains attention as emerging alternative to China for rare earth imports amid US-China conflict
■ “LS Eco Energy, fostering global supply chains base based on local experience accumulated over 30 years”


LS Eco Energy has held high-level discussions with the Vietnamese government on cooperation in the rare earth industry.

LS Eco Energy announced on the 23rd that it had discussed ways to secure stable rare earth resources with Nguyen Hoang Long, deputy minister of industry and trade, in Hanoi, Vietnam, on the 22nd.

This meeting was arranged as part of follow-up discussions on the cooperation plan discussed at a meeting held during the visit of the Vietnamese minister of industry and trade to Korea in February.

Koo Bon-kyu, CEO of LS Cable & System, and Lee Sang-ho, CEO of LS Eco Energy, requested that the government provide institutional support for ▲ licensing in relation to radioactive material and the amendment of environmental regulations, and ▲the establishment of a foundation for cooperation with local mining companies.

Recently, with the prolongation of the US-China conflict, China has restricted exports of rare earth oxides, and Vietnam is attracting attention as a new supplier of rare earth elements. However, it has been pointed out that Vietnam has limitations in industrialization due to a lack of refining and metallization technology.

LS Eco Energy is seeking to secure rare earth refining and metallization technology through cooperation with the Korea Institute of Geoscience and Mineral Resources and Seoul National University, and to establish a step-by-step value chain linked to Vietnamese resources. The company also plans to strengthen its business execution capabilities and hopes to achieve tangible investment results by linking up with promising local mining companies.

Lee Sang-ho, CEO of LS Eco Energy, said, “Based on the business experience we have accumulated in Vietnam over the past 30 years, we will be the best partner for Vietnam to become a hub for the global rare earth industry.”

“A cooperation model that combines Korea's technological prowess and Vietnam's resources will contribute to Vietnam's industrial advancement,” said Nguyen Hoang Long, deputy minister of industry and trade of Vietnam. “We will actively consider support measures at the government level.”