The mechanism was established under an official development assistance (ODA) program titled “Project to build Vietnam’s Critical Minerals Supply Chain Technical Cooperation Center,” jointly implemented by the Ministry of Trade, Industry and Energy of the Republic of Korea (RoK) and the Korea Institute for Advancement of Technology (KIAT).

With the launch of the consultative mechanism, a platform has been created to help enterprises from the RoK systematically identify opportunities in Vietnam’s mineral resource development while building practical cooperation models based on local partnerships. The project is being jointly carried out by the Korea Institute of Geoscience and Mineral Resources, The Korea Overseas Resources & Energy Industry Association and Esan Consulting Group.

The mechanism forms part of the RoK’s overseas strategy to secure sources of critical minerals by expanding cooperation with international partners, including Vietnam. Its establishment is expected to serve as a strategic stepping stone to broaden investment opportunities for RoK companies and provide practical support for stabilizing global supply chains.

The closed-door meeting drew leaders from major RoK mining and materials companies to share market-entry strategies and discuss Vietnam’s mining market and investment environment. Notably, representatives of Vietnamese mining enterprises also attended, enabling in-depth discussions between the two sides on the development potential of key minerals and the scope for future cooperation.

In the period ahead, the consultative mechanism will regularly share with participating companies information collected under the ODA project, including updates on Vietnam’s mining sector, promising investment opportunities, and customized enterprise cooperation programs.

Based on this information, plans are in place to establish a joint response system and promote substantive cooperation projects across all stages of the value chain, from exploration and extraction to processing.

A K-RESOURCES representative said the launch of the mechanism marks an important milestone in expanding opportunities for RoK businesses to engage in Vietnam’s mining sector, while contributing to greater stability in global supplies of critical minerals.

The association will further strengthen support so that participating companies can deliver practical outcomes through close cooperation with governments and relevant agencies.

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