South Korea has been chosen to lead a new multinational initiative called FORGE, part of a US effort to enhance collaboration with allies on critical minerals supply chains until June, as per the State Department. This initiative aims to counter China’s significant influence over essential resources. FORGE, chaired by South Korea, will focus on addressing challenges in the global critical minerals market with decisive actions, building on the Minerals Security Partnership (MSP).
The US State Department highlighted the importance of cooperation among FORGE partners to strengthen diversified and secure critical minerals supply chains at both policy and project levels. South Korea, having previously chaired the MSP, will play a crucial role in this initiative. The inaugural Critical Minerals Ministerial, hosted by US Secretary of State Marco Rubio, saw the participation of officials from 54 countries, the European Commission, and key representatives like South Korean Foreign Minister Cho Hyun, Japan, Australia, Canada, and India.
During the meeting, US Vice President JD Vance emphasized the administration’s aim to establish a “preferential trade zone” with mechanisms like “price floors” and “adjustable tariffs” to safeguard against external disruptions. This move comes amidst heightened US efforts to unite allies in addressing supply chain vulnerabilities and reducing risks posed by China’s dominance in rare earths and other critical resources.
