South Korea’s reliance on China for critical minerals
South Korea is trying to diversify its sources of the critical minerals needed to build out green and digital technologies. Import data for four of these resources, which are used in everything from electric vehicles to semiconductors, illustrates South Korea’s reliance on imports from China.
Lithium hydroxide
100%
China
50
> 83%
Chile
~ 11%
0
‘16
‘18
‘19
‘20
2015
‘17
‘21
Neodymium magnet
100%
50
> 85%
Other countries
0
2015
‘16
‘17
‘18
‘19
‘20
‘21
Tungsten oxide
100%
50
> 92%
0
2015
‘16
‘17
‘18
‘19
‘20
‘21
Magnesium ingot
100%
50
> 99%
0
2015
‘16
‘17
‘18
‘19
‘20
‘21
Source: The Korea Customs Service
Jitesh Chowdhury | Reuters, May 6, 2022
South Korea’s reliance on China for critical minerals
South Korea is trying to diversify its sources of the critical minerals needed to build out green and digital technologies. Import data for four of these resources, which are used in everything from electric vehicles to semiconductors, illustrates South Korea’s reliance on imports from China.
Lithium hydroxide
Neodymium magnet
100%
100%
China
50
50
> 85%
> 83%
Chile
~ 11%
Other countries
0
0
2015
‘16
‘17
‘18
‘19
‘20
‘21
‘18
‘19
‘20
2015
‘16
‘17
‘21
Tungsten oxide
Magnesium ingot
100%
100%
50
50
> 92%
> 99%
0
0
2015
‘16
‘17
‘18
‘19
‘20
‘21
2015
‘16
‘17
‘18
‘19
‘20
‘21
Sources: The Korea Customs Service
Jitesh Chowdhury | Reuters, May. 6, 2022
South Korea’s reliance on China for critical minerals
South Korea is trying to diversify its sources of the critical minerals needed to build out green and digital technologies. Import data for four of these resources, which are used in everything from electric vehicles to semiconductors, illustrates South Korea’s reliance on imports from China.
Lithium hydroxide
Neodymium magnet
100%
100%
China
50
50
> 85%
> 83%
Chile
~ 11%
Other countries
0
0
2015
‘16
‘17
‘18
‘19
‘20
‘21
‘18
‘19
‘20
2015
‘16
‘17
‘21
Tungsten oxide
Magnesium ingot
100%
100%
50
50
> 92%
> 99%
0
0
‘18
‘19
‘20
‘18
‘19
‘20
2015
‘16
‘17
‘21
2015
‘16
‘17
‘21
Source: The Korea Customs Service
Jitesh Chowdhury | Reuters, May 6, 2022