Spokesperson's Press Briefing (June 27, 2024)

Press Briefing

Spokesperson and Deputy Minister for Public Affairs Soosuk Lim

June 27, 2024 14:30 KST

Good afternoon. Let me start today's briefing.

Starting on July 1, Korea will assume the chairmanship of the Minerals Security Partnership (MSP) for one year.

The MSP comprises 14 countries, including Korea and the Group of Seven (G7) countries, as well as the European Union.

Critical minerals are indispensable for high-tech industries such as semiconductors and electric vehicles, which are pivotal to Korea's economic prosperity and essential for the global clean energy transition. International cooperation in the field is absolutely necessary in order to secure stable global supply chains.

The Korean government has strengthened bilateral and mini-lateral consultations with resource-rich countries in Africa and Central Asia, while actively participating in multilateral discussions such as the MSP.

As MSP Chair, Vice Minister of Foreign Affairs Kang Insun will seek results from the MSP's key pilot projects, coordinate the views of the MSP members, and lead discussions on critical minerals, in order to achieve stability of global supply chains.

Korea will also closely monitor global trends in the critical minerals industry and share insights with domestic industry stakeholders in an effort to contribute to the Korean people's livelihoods.

During Korea's MSP chairmanship, the Ministry of Foreign Affairs will seek to enhance Korea's economic security and to reinforce its status as a Global Pivotal State.

Moving on, Minister of Foreign Affairs Cho Tae-yul will have a meeting with Vice Prime Minister and Minister for Foreign Affairs and Foreign Trade of Luxembourg Xavier Bettel on July 4.

Luxembourg is one of the countries that sent combat troops to the Republic of Korea during the Korean War, which marked the first such dispatch to a foreign country in its history. It is also a like-minded country and friend of Korea that steadily extends support to Korea on the international stage.

In the meeting, the two sides will review ways for future cooperation, such as on space and quantum technologies, which were covered at the bilateral summit in July last year, and discuss the situation on the Korean Peninsula and regional affairs.

Following the meeting, the Memorandum of Understanding between Korea and Luxembourg concerning a Working Holiday Program will be signed by both Ministers, boosting people-to-people ties and forms of cooperation among the young generations.

(A question-and-answer session followed.)

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