Photograph) Yoon Chang-hyun, director-general of the Resources Industry Policy Bureau at the Ministry of Trade, Industry and Energy, Koo Bon-kyu, KRIA Chairman, Lee Eon-joo, member of the National Assembly, and Kwon Yi-kyun, president of the Korea Institute of Geoscience and Mineral Resources (from third from the left in the front row), take a commemorative photo at the inauguration ceremony of the Korea Rare Earth Industry Association (KRIA), held on the 22nd at the Nine Tree Premier Rokaus Hotel in Yongsan-gu, Seoul.


■ Cooperation between LS, POSCO, Hyundai, and other industrial players, along with government, academia, and research institutions, to accelerate supply chain diversification and technological self-reliance
■ Expected to enhance resource security and competitiveness in advanced industries by establishing foundation for domestic production


The Korea Rare Earth Industry Association (KRIA, chairman Koo Bon-kyu), the first professional association for rare-earth metals in South Korea, has officially launched.

The KRIA announced on the 22nd that it held its inaugural ceremony at the Nine Tree Premier Rokaus Hotel in Yongsan-gu, Seoul, and has officially begun operations.

The association aims to lead the establishment and growth of a domestic rare-earth industry, which will bolster the competitiveness of advanced industries.

The event was attended by some 50 people from government, industry, and academia, including Koo Bon-kyu, the first chairman and CEO of LS Cable & System, Lee Eon-joo, a member of the National Assembly, and Yoon Chang-hyun, director-general of the Resources Industry Policy Bureau at the Ministry of Trade, Industry and Energy.

More than 20 major companies, academic institutions, and research organizations are participating in the association, including LS Cable & System, LS Eco Energy, POSCO International, Hyundai Material, Seoul National University, Hanyang University, Korea Institute of Industrial Technology, and the Korea Institute of Geoscience and Mineral Resources.

Rare-earth metals are strategic minerals essential for all advanced industries, such as electric vehicles, wind power generation, defense, and aerospace, and are known as the "vitamins of advanced industries."

Amid the fierce global competition to secure a rare earth supply chain following China's recent export restrictions, the launch of this association is significant, as it will strengthen both national resource security and industrial competitiveness.

The association's main initiatives include:
ㆍ    Building a stable supply chain for rare-earth metals
ㆍ    Fostering an ecosystem for related industries such as metal and permanent magnets
ㆍ    Jointly proposing policies and strengthening R&D
ㆍ    Discovering and training specialized talent

Koo Bon-kyu, chairman of the Korea Rare Earth Industry Association, stated, "Diversifying the rare-earth supply chain and achieving technological self-reliance are the core of our advanced industrial competitiveness. We will make this a reality through cooperation between industry, academia, research institutes, and government."