Korea Zinc could play a central role in South Korea’s efforts to reduce its reliance on imported rare earths by applying its advanced smelting and recycling technologies, according to a Korea Development Bank report.
In its report, “Global Rare Earth Supply Chain Restructuring Trends,” released Sept. 2, the KDB Future Strategy Research Institute said Korea could use its sophisticated smelting capabilities and strong industrial demand base to bolster supply chain resilience as countries tighten export controls on rare earth materials.
Korea’s nonferrous-metals industry has accumulated expertise in smelting and chemical processing that could be adapted to recover rare earth elements from recycled materials, the report said.
Rare earths are essential to electric vehicles, offshore wind turbines and advanced weapons systems, with demand centered on high-performance permanent magnets.
The report singled out Korea Zinc as a leading domestic company expanding its critical-minerals refining and recycling operations.
Since Chair Yun B. Choi took office in 2022, Korea Zinc has developed its resource-recycling business under Troika Drive, a long-term growth strategy encompassing renewable energy, secondary battery materials and resource recycling.
In the US, the company is working with the federal government on Project Crucible, a large-scale integrated smelter planned for Clarksville, Tennessee. The facility is expected to produce 11 minerals designated as critical by the US government.
Korea Zinc is also participating in a Korean government-backed project running through 2030 to develop core equipment for rare earth processing facilities. Separately, it is developing technology to recover rare earth materials from discarded motors.
“We will help stabilize Korea’s critical-minerals supply chain by drawing on decades of expertise in smelting, recovery and resource recycling,” a company official said.
By Lim Ye-jin (yejinlim@heraldcorp.com)
