Canada and South Korea have signed a memorandum of understanding on supply chains for critical minerals and the transition to clean energy.
Prime Minister Justin Trudeau reached the agreement with South Korean President Yoon Suk Yeol during an official visit to Seoul Wednesday, where they also announced a new youth mobility arrangement.
The Prime Minister’s Office says both countries can play a “leading role” as “reliable partners” when it comes to the supply chain for electric vehicles and the critical minerals needed to make their batteries.
The announcement comes as Canada’s federal government is in a dispute with automaker Stellantis, which has halted construction on an electric-vehicle battery plan in Windsor, Ont., in partnership with South Korean battery-maker, LG Energy Solution.
Both countries have released Indo-Pacific strategies within the past year, which provide road maps for strengthening military and economic relationships in the region to counterbalance the influence of Beijing.
The new agreement on youth mobility, with an annual quota of 12,000 people, will provide new opportunities for youth to work in both countries.
Trudeau to visit South Korea ahead of G7 summit in Japan
Trudeau addresses National Assembly
Trudeau said authoritarianism is gaining ground in an address to South Korean National Assembly Wednesday morning.
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The prime minister is in Seoul for his first official visit to South Korea and as Canada vies to strengthen ties between the two countries, and become “the best of friends.”
In his address, he says “antagonistic countries” are taking advantage of economic interdependence to their own geopolitical advantage.
Trudeau’s visit to South Korea follows on commitments from both countries to strengthen economic and military ties to counterbalance the influence of China.
Trudeau goes on to tell parliamentarians the “world is facing a moment of uncertainty” as countries recover from the COVID-19 pandemic, while economic anxiety and climate change add stress to people’s lives.
He argues Canada and South Korea can be partners in addressing climate change, which he says is also a way to safeguard against geopolitical instability and build more resilient economies.
South Korea’s President Yoon warns Congress of growing threat from North Korea
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