South Korea has taken part in the Group of Seven finance ministerial meeting as an observer member to discuss major economies’ export control measures and critical mineral supply chains, the finance ministry said Tuesday.
Finance Minister Koo Yoon-cheol participated in the virtual meeting held with ministers of the G7 member nations and other invited countries, including Australia, India and Mexico, to exchange views on the impact of global supply chain uncertainties stemming from export restrictions on rare earths and ways to stabilize critical mineral supply chains, according to the ministry.
It marked the second time Koo participated in a G7 meeting at the invitation of this year’s host nation of Canada, following the previous gathering held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank Group in October.
The ministry said Koo shared Korea’s efforts to diversify its supply chains and push for joint resources exploration and development projects with countries with abundant resources.
He said Korea will actively cooperate with the international community for supply chain stabilization as a “credible” partner, the ministry added. (Yonhap)