South Korea Strengthens Economic Ties with Central Asia Amid Resource Strategy

South Korean President Lee Jae Myung hosted a summit with Central Asian leaders to boost cooperation on critical minerals and energy. The meeting resulted in over 70 agreements and marked a new phase in regional ties, focusing on expanding the entire mineral value chain and strategic partnerships.

South Korean President Lee Jae Myung recently convened the nation’s first summit with leaders from five Central Asian countries, aiming to fortify ties through critical minerals, energy, and supply-chain collaboration. This strategic meeting with Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, and Tajikistan led to more than 70 agreements addressing energy, mining, infrastructure, technology, and investment.

At a business forum post-summit, President Lee emphasized South Korea's strategy to enhance industrial partnerships beyond resource imports. He articulated the necessity for cooperation across the critical minerals value chain, encompassing exploration, refining, materials processing, and finished-product manufacturing.

The summit signifies a pivotal progression in South Korea’s engagement with Central Asia, aiming to diversify supplies of vital resources such as crude oil and uranium. It has established a framework for biennial summits, with Kazakhstan as the next host in 2028, further solidifying partnerships in nuclear energy and renewable power.