JULY 25, 2023 INSIGHT: NORTHEAST ASIA South Korean investment in Canada grows, strengthening bilateral ties THE TAKEAWAY expanded co-operation in critical mineral supply chains and the clean energy sector, alongside a joint pursuit of A June 20 report by the South Korean Ministry of shared values. [...] Some key initiatives include: Economy and Finance (MEF) revealed that despite an overall decline in South Korea’s direct investment • In May, POSCO Future M Co., a South Korean abroad in the first quarter of 2023, South Korean battery material manufacturer, and General Motors, investment in Canada surged by 62.1 per cent compared a U. [...] • In June, SK ecoplant, a South Korean renewable IN BRIEF energy company, committed C$6 billion to the Canada and South Korea have conducted numerous Nujio’qonik Project, which is a Canadian commercial diplomatic exchanges in 2023 to mark 60 years of green hydrogen plant facilitated by a Newfoundland diplomatic relations, with the 60th anniversary and Labrador-based renewable energy company, follo. [...] • In July, LG Energy Solution, a prominent South In Q1 of 2023, Canada ranked second in the world in Korean leader in lithium-ion batteries and energy terms of South Korean net investment, trailing only the storage solutions, and Stellantis, a multinational U. [...] MoU on clean energy, critical minerals company specializing in low-carbon concrete In May, during their meeting in Seoul, Trudeau and technology, to collaborate on decarbonizing the Yoon signed a memorandum of understanding (MoU) construction industry in South Korea.
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