South Korea: en route for recovery

摘要

Since South Korea lacks various indigenous resources, it imports many minerals from other countries. Nearly 100% of South Korea's demand for energy and mineral resources such as bituminous coal, copper, iron, zinc ores and several industrial minerals are imported from around the world. Moreover, the demands increase every year due to the constant expansion of the country's economy. At on onset of the 1997 financial crisis, the government, in co-operation with management and labour, immediately launched a comprehensive restructuring driven which has enabled the country to recover from the crisis earlier than expected. IM last reviewed the industrial minerals of South Korea in August 1993, and this article presents an update of the main changes in minerals supply and market demand.