Seoul, March 25
South Korea will work to facilitate the growth of the critical mineral recycling industry, with a goal of achieving a 20 percent recycling rate of key critical minerals by 2030, the industry ministry said on Tuesday.
The Ministry of Trade, Industry and Energy announced the plan as part of a broader government initiative aimed at stabilising supply chains.
Under the plan, the ministry will work to foster the growth of the critical mineral recycling industry by streamlining related regulations, creating industrial clusters and expanding infrastructure for companies in the sector, reports news agency.
Through such efforts, the country aims to recycle 20 percent of strategic critical minerals essential for advanced industries, like batteries and semiconductors, by 2030.
The key strategic minerals include lithium, nickel, cobalt, manganese and five types of rare earth elements.
Meanwhile, the government said last week it will work to devise support measures for the critical minerals recycling industry as part of efforts to stabilize the supply chain for advanced industries.