We have already seen success betweencollaboration between...

We have already seen success between
collaboration between Australian companies
and Korean governments. In March, Australian
company Australian Strategic Materials Limited
(ASM) strengthened its supply chain by securing
a deal with the Chungcheongbuk-do (Chungbuk)
Provincial Government and Cheongju-si (Cheongju)
City Government in South Korea. The plant will
be strategically positioned near important Korean
manufacturing companies, including LG Chemical and
Samsung SDI, who are key customers in the region.

In July, a further announcement was made with ASM
entering into a A$340 million framework agreement
with a consortium of South Korean investors for
20% equity interest in ASM Holdings – the holding
company for ASM’s Dubbo Projects. As part of the
agreement, the neodymium oxide produced at the
Dubbo plant will become the primary source of feed
into the metalisation plant that is currently under
construction in Ochang, Korea – creating a truly
integrated supply chain in rare earth neodymiumiron-boron magnet metals.

Partnerships like these are positive steps and play
to Korea’s expertise and experience in battery and
storage technology, electric vehicles, solar panels
and other renewable energy manufacturing.