Securing critical minerals supplies in the context of a mineral-poor country: reviewing South Korea’s domestic and international engagement

Abstract

This review article addresses a gap in the literature that has largely sidelined South Korea’s critical minerals strategies despite the country’s leading role in low-carbon and defense technologies. In particular, we focus on the structure of South Korea’s domestic and foreign engagement for critical minerals sourcing. We identify 18 documents that constitute the architecture of the resource-poor country’s efforts to address supply risks. With an economy driven by industrial conglomerates highly reliant on these minerals, South Korea has mobilized a realistic approach of diversifying its supply chains. This contrasts with its U.S. and to a lesser extent European counterparts looking to decouple themselves from Chinese supplies. South Korea, by opposition, recognizes the immense capacities of China and intends to maintain part of its sourcing from its neighbor while diversifying through engagement with global mineral leaders in Asia, smaller African producers, and potentially the development of deep sea mining. This article constitutes a first step in understanding critical minerals strategies for resource-poor countries with significant industrial and technology sectors. Finally, we conclude by providing four avenues for potential future research.