South Korea and the United States have begun a joint research project on the extraction of rare earth elements in Vietnam in a bid to cement their partnership to improve the supply chain of these critical minerals.

On October 26, the Ministry of Foreign Affairs of the Republic of Korea and the Department of State of the United States launched the first joint scientific research project under the Embassy Science Fellows (ESF) Programme.

The research will promote the use of environmentally friendly technologies to extract rare earth elements and other critical minerals from coal ash.

The efforts will bolster international cooperation in enhancing the sustainable extraction and processing of critical materials by advancing the deployment of clean technologies in the global supply chain.

This collaboration complements existing multilateral dialogue mechanisms, such as the Minerals Security Partnership, in which both South Korea and the US are participating.

The South Korea-US ESF project in Vietnam is an important milestone in expanding their sci-tech cooperation in other countries. The South Korean and US embassies in Hanoi are working closely together to support research activities on the ground.

The joint project will be carried out by the Korea Institute of Geoscience and Mineral Resources (KIGAM) and the US Geological Survey for three months from October 2023 from KIGAM’s office in Hanoi. South Korea and the United States are working closely with the Vietnamese government to facilitate this research.

Vietnam has the world’s second-largest reserves of rare earth minerals – an estimated 22 million tonnes – yet the resources have remained untapped.

Rare earths are being used to produce wind turbines and magnets, serving the renewable energy and green transportation sectors. The global demand is expected to double by 2030 and quadruple by 2050.

Vietnam Investment Review