Ross Gregory has built his career deep diving into the needs of his clients and working with them to develop long term solutions. Now as Executive Director of Altor Capital in Korea he is bringing all of his knowhow and experience to bear on helping Korean high-tech manufacturers secure the critical minerals and rare earths they need.
On the same day that President Moon signed an agreement with Australia to boost exports of rare earths to Korea, it is the prefect time to discuss the Korea-Australia partnerships next iteration.
As Ross says, Korea’s advanced manufacturing is the powerhouse of the economy. Korea produces right across the whole of the EV ecosystem, everything from the production of cathodes and anodes, separators electrolytes as well as all the major components of cells. Korea, along with China and Japan also leads in cell manufacturing. Household names such as SK and LG energy solutions, Samsung SDI, POSCO, as well as Hyundai and Kia. All these firms have a global footprint, and they all security in their supply chains.
Given this, Australia is once again Korea’s natural partner. However, whereas previously it may have been sustainable to secure resources on a spot rate, or longer-term contracts, long-term investments are now required to secure upstream supply.
The current geopolitics are a factor here as well, as China looks to secure its own needs in its energy transition, it is vital for Korea’s national security to do the same.