South Korea targets 20% recycling of critical minerals by 2030

South Korea plans to increase recycling of critical minerals to 20% by 2030. This initiative is a response to growing trade tensions between the US and China, which have created supply uncertainties for the country. The South Korean government wants to recover 10 important minerals from waste like old batteries and circuit boards. These minerals will support key industries, including semiconductors and electric vehicles. The targeted minerals are lithium, nickel, cobalt, manganese, graphite, and five rare earth elements. This step aims to lessen South Korea's dependence on imports, especially from China and Chile. Recent trade conflicts may harm Korean battery manufacturers that work with American car companies, including major players like LG Energy Solution and Samsung SDI. China is a major player in the recycling market, handling over half of the battery scrap and most of the recycling processes. As the demand for critical minerals rises, global companies are trying to reduce China's dominance. Currently, South Korea relies on imports for 99% of its metal supply due to limited domestic resources. To address this, the government plans to create a recycling cluster, introduce a battery tracking system, and certify recovered materials. Financial support will also be provided for innovative projects in the recycling sector.