SK ecoplant, majority owned by SK Inc, and the Korea Institute of Geoscience and Mineral Resources (KIGAM) are set to accompany President Yoon Suk-yeol on his tour of Kazakhstan as part of an economic mission to three Central Asian countries. This tour, which also includes visits to Turkmenistan and Uzbekistan, aims to discuss securing key mineral resources and enhancing business cooperation in the energy sector.
Chey Tae-won, chairman of both the Korea Chamber of Commerce and Industry and SK Group, along with KIGAM president Lee Pyung-koo, will join President Yoon on this mission, which began on June 10.
Kazakhstan, the largest oil producer in Central Asia, is a focal point for this mission due to its significant natural resources. Ranking 12th globally in crude oil reserves, the country’s exports are heavily dominated by mineral fuels and metallic minerals. In 2023, KIGAM discovered high-purity lithium resources in the Bakeno region of Kazakhstan and has since been working with the Kazakh government to select an investor for developing these deposits.
SK Group, through its recycling business spearheaded by SK ecoplant, is expected to play a crucial role in local geological exploration and lithium development projects coordinated by KIGAM. SK ecoplant has been collaborating with KIGAM since 2022 on developing technologies for resource recycling, including battery recycling. Last year, the company internalized four core technologies for recycling waste batteries and plans to commercialize these technologies by completing a recycling plant in Gyeongju, North Gyeongsang Province.
This economic mission underscores South Korea’s strategic efforts to secure essential mineral resources and strengthen its energy sector cooperation with Kazakhstan. The collaboration between SK ecoplant, KIGAM, and the Kazakh government is anticipated to pave the way for significant advancements in lithium development and resource recycling technologies.
