While the United States, China and other major economies scramble to lock down supplies of critical minerals essential to semiconductors, electric vehicles and defense systems, Korea is losing ground — and growing more reliant on China in the process…China has weaponized its control over certain materials…The government aims to cut dependence on any single country, such as China, to 50 percent or less by 2030 for these strategic minerals…But diversification efforts have lagged…Korea faces unique structural challenges, as the country lacks a broad range of domestic mineral deposits, and most are not economically viable…The Korean government has increased emergency stockpiles to manage short-term disruptions and plans to expand recycling as a long-term strategy…“Stockpiling is important, but Korea must focus on diversifying supply chains and securing minerals that can be brought in at any time, including through mine development,” said Kang Cheongoo, an adjunct professor at Inha University’s Graduate School of Manufacturing Innovation…Despite the growing urgency to secure overseas resources, Korea has limited options…The government merged the Mine Reclamation Corporation and Korea Resources Corporation in 2021 to create the Korea Mine Rehabilitation and Mineral Resources Corporation (Komir), banning new overseas resource development projects. The Komir now focuses on liquidating existing assets…Japan, by contrast, is advancing its supply chain strategy through public-private partnerships… “Although past failures in overseas development left financial and political baggage, Korea must revisit public-led resource strategies if it wishes to maintain its manufacturing base.”

When Will Haseltine saw images online of a small, boxy electric pickup from startup Slate Auto this past spring, he got on the waitlist right away. The sparse interior and crank windows reminded him of the no-frills pickups he grew up around in Memphis, Tennessee – but he was most enamored with the sub-$20,000 price tag…That price, though, factored in a $7,500 federal tax break, which is set to expire Sept. 30, a casualty of the budget package U.S. President Donald Trump signed into law earlier this month. Now Haseltine isn’t sure the truck will fit his budget when it comes out, expected late next year…Michigan-based Slate has raised $700 million from investors, including Amazon.com founder Jeff Bezos, and has racked up more than 100,000 reservations for its cars. But the company is launching into a tough U.S. market…“We are building the affordable vehicle that has long been promised but never delivered,” Slate CEO Chris Barman said at a Detroit conference in July…The startup has taken a bare-bones approach to its two-seat pickup, which is slightly smaller than a Honda Civic hatchback. How bare-bones? A stereo and power windows will cost extra. Slate hasn't disclosed the cost of such add-ons.