Koreans jet in for lithium talks
Govt’s hard-line stance on exports winning
Executives from Samsung and other leading multinationals are in Windhoek to discuss value-chain deals with Namibia.
The vice-president of electronics giant Samsung SDI yesterday said their company wants to get involved in lithium supply value chain management in Namibia, amid a boom in the sought-after mineral.
Kyunghun Pee addressed the first Namibia-Korea business forum on energy and resources in Windhoek yesterday.
“Samsung SDI will further upgrade its skills by starting to collaborate with Namibia and get involved in lithium supply value chain management. As always, Samsung SDI's door is open to contribute to the value chain and source enrichment. It would be great if it could start with Namibia today," he said.
Kyunghun expanded on the expertise his company has gained over 24 years to now boast leading chemistry know-how, unlimited quality and safety-based mass production, as well as global operations.
The forum was organised by the Namibian Investment and Development Promotion Board (NIPDB) and was attended by the mines and energy minister Tom Alweendo, Korea's ambassador to Namibia Choi Kwang-jin, the president of the Korean Energy Agency Sanghoon Lee and the secretary-general of Korea's bid committee for the World Expo 2030, Yoon Sang-Jick, among others.
Economic advisor to President Hage Geingob, James Mnyupe, was the master of ceremonies. According to him, the delegation visited five other African countries and Namibia is the last stop before they return.
Unmatched
According to Yoon, himself a former advisor to his president and a former minister of trade, industry and energy, Korea is unmatched in terms of the world's best technology and largest production capacity for high-tech devices that require critical minerals. Apart from China, Korea has 54% of the world market share considering the demand for minerals for battery production, for example lithium.
"If you don't export to China, the last destination company is automatically Korean," he said. He mentioned that the delegation also includes representatives for LG, SK and other major Korean companies.
"I am very happy to be here because Namibia is rich in terms of mineral resources; you are rich in oil and gas and your plan for emissions, to develop your industries for the energy transition. The purpose of this delegation is to lay the foundation for cooperation between the two countries, starting in the area of mineral resource development," he said.
"It is true that Korea is getting here quite late, but I believe it is time to speed up our business relationship," he said.
"Our delegation covers the entire value chain except mining, and we are more inclined to expand our businesses in the direction of refineries and so on.”
Win-win outcomes
According to a presentation delivered by Yunkyung Park on behalf of the Korean Energy Agency, Korea wants to increase its own renewable energy generation by 10 times over 10 years, for which the country must establish five gigawatts of renewable power sources each year.
“Thus the renewable energy industry is promoted, and solar panels, solar power for the building industry, the wind power industry value chain and bio-energy are promoted. An additional overseas mineral value-added project is also ongoing, she added.
Alweendo, who pushed for the ban of raw mineral exports until Cabinet endorsed his plan in June, said: "We want to become a developed country like you, and for us to get there we need cooperation and collaboration. We have the right ingredients, energy and resources, and are still looking for investors in our economy, but the investments must bring win-win outcomes."
Kyunghun Pee addressed the first Namibia-Korea business forum on energy and resources in Windhoek yesterday.
“Samsung SDI will further upgrade its skills by starting to collaborate with Namibia and get involved in lithium supply value chain management. As always, Samsung SDI's door is open to contribute to the value chain and source enrichment. It would be great if it could start with Namibia today," he said.
Kyunghun expanded on the expertise his company has gained over 24 years to now boast leading chemistry know-how, unlimited quality and safety-based mass production, as well as global operations.
The forum was organised by the Namibian Investment and Development Promotion Board (NIPDB) and was attended by the mines and energy minister Tom Alweendo, Korea's ambassador to Namibia Choi Kwang-jin, the president of the Korean Energy Agency Sanghoon Lee and the secretary-general of Korea's bid committee for the World Expo 2030, Yoon Sang-Jick, among others.
Economic advisor to President Hage Geingob, James Mnyupe, was the master of ceremonies. According to him, the delegation visited five other African countries and Namibia is the last stop before they return.
Unmatched
According to Yoon, himself a former advisor to his president and a former minister of trade, industry and energy, Korea is unmatched in terms of the world's best technology and largest production capacity for high-tech devices that require critical minerals. Apart from China, Korea has 54% of the world market share considering the demand for minerals for battery production, for example lithium.
"If you don't export to China, the last destination company is automatically Korean," he said. He mentioned that the delegation also includes representatives for LG, SK and other major Korean companies.
"I am very happy to be here because Namibia is rich in terms of mineral resources; you are rich in oil and gas and your plan for emissions, to develop your industries for the energy transition. The purpose of this delegation is to lay the foundation for cooperation between the two countries, starting in the area of mineral resource development," he said.
"It is true that Korea is getting here quite late, but I believe it is time to speed up our business relationship," he said.
"Our delegation covers the entire value chain except mining, and we are more inclined to expand our businesses in the direction of refineries and so on.”
Win-win outcomes
According to a presentation delivered by Yunkyung Park on behalf of the Korean Energy Agency, Korea wants to increase its own renewable energy generation by 10 times over 10 years, for which the country must establish five gigawatts of renewable power sources each year.
“Thus the renewable energy industry is promoted, and solar panels, solar power for the building industry, the wind power industry value chain and bio-energy are promoted. An additional overseas mineral value-added project is also ongoing, she added.
Alweendo, who pushed for the ban of raw mineral exports until Cabinet endorsed his plan in June, said: "We want to become a developed country like you, and for us to get there we need cooperation and collaboration. We have the right ingredients, energy and resources, and are still looking for investors in our economy, but the investments must bring win-win outcomes."
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