South Korea Announces Plans to Strengthen Rare Metals Supply Chain
South Korea recently unveiled plans to secure its rare metals supply chain and increase competitiveness, including through more industry support, the country’s Ministry of Trade, Industry and Energy said this month. The plan, which will cover a range of metals…
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used to make semiconductor chips and batteries, includes tax breaks and other incentives for its rare metals sectors to reduce reliance on foreign suppliers. The measures are designed to “establish a secure supply chain to cope with potential supply uncertainties,” Argus said in an Aug. 5 blog post. The U.S. has taken similar measures to support its semiconductor industry (see 2107280051 and 2107220006).