“Trump singled it out for praise”… Choi Yun-beom’s 11 trillion won move at Korea Zinc: What’s happening in the U.S.?

Trump touts Korea Zinc investment at Tennessee rally “Investing more than $6 billion and creating 740 jobs” Choi Yun-beom-led Project Crucible draws attention Korea-U.S. supply-chain cooperation expands amid China’s critical-mineral export controls

사진 확대 President Trump directly introduced Korea Zinc’s local investment plan at a rally supporting Republican candidates in the midterm elections, held on the 10th (local time) in Clarksville, Tennessee. [Fox News]

U.S. President Donald Trump publicly praised an 11-trillion-won U.S. smelter construction project led by Korea Zinc Chairman Choi Yun-beom. He highlighted its job-creation potential, describing it as the first new mineral smelter to be built in the United States in nearly half a century. Observers say that as China restricts exports of critical minerals, Choi’s major U.S. investment is emerging as a key project in Korea-U.S. economic security cooperation.

According to Reuters, Fox News and other outlets on the 12th, President Trump directly introduced Korea Zinc’s local investment plan at a rally supporting Republican candidates in the midterm elections, held on the 10th (local time) in Clarksville, Tennessee.

President Trump said, “Korea Zinc is investing at least $6 billion in Montgomery and Smith counties in Tennessee and creating 740 jobs.”

He added, “Your state will be home to the first new mineral smelter built in the United States since 1979,” and emphasized, “It will be a big, beautiful smelter, and it will create good jobs with high wages.”

The project Trump referred to is Project Crucible, which Korea Zinc is pursuing with the U.S. government and others. It is a large-scale investment project that Chairman Choi has pursued to respond to the restructuring of global critical-mineral supply chains.

Choi Yun-beom’s 11 trillion won bold move… Producing 11 critical minerals in the U.S.

Last December, Korea Zinc decided to pursue Project Crucible, which involves building a large integrated nonferrous metal smelter in Tennessee. The total investment is about $7.4 billion, equivalent to approximately 11 trillion won.

The smelter, targeted for completion in 2029, is planned to produce 11 minerals designated as critical minerals by the United States, including zinc, lead, copper, antimony, indium, bismuth and gallium.

These minerals are widely used in semiconductors, artificial intelligence (AI), advanced electronics and the defense industry. Gallium and antimony in particular are strategic resources for which the United States relies heavily on overseas supply chains.

China’s critical-mineral export controls are among the reasons Chairman Choi pursued investment in the United States. China has used critical minerals as tools of economic and diplomatic pressure, including by introducing export licensing requirements for gallium and germanium in August 2023.

The United States, too, is moving quickly to build supply chains centered on itself and its allies in order to reduce its dependence on China. Its strategy is not only to secure minerals but also to establish production facilities that can smelt and refine them and supply them to industry.

Korea Zinc plans to apply in the United States the nonferrous metal smelting technology and operational experience it has built up at its Onsan Refinery in Ulsan. Through this, it aims to diversify its production bases and expand its position in the global critical-minerals market.

U.S. government and international organizations take note… A key to Korea-U.S. supply-chain cooperation

사진 확대 Chairman Choi Yun-beom tours the smelter acquired in the United States. [Korea Zinc]

Project Crucible is also drawing attention as a major U.S. government effort to strengthen supply chains.

At a roundtable on critical-mineral supply chains held at the State Department in Washington, D.C., on August 7, U.S. Commerce Secretary Howard Lutnick reportedly introduced the project while emphasizing the need to build supply chains within the United States.

The International Energy Agency (IEA) and the U.S. think tank Center for Strategic and International Studies (CSIS) have also highlighted Project Crucible’s strategic value.

In particular, CSIS assessed the project as an example of the United States and South Korea jointly building a critical-minerals ecosystem. The analysis says South Korea could move beyond being merely a technology supplier and become a country that helps shape global supply chains.

The project is also gaining momentum. Last April, Project Crucible was designated for the federal government’s FAST-41 program, which expedites permitting for major infrastructure projects. More recently, it received a “no significant environmental impact” determination in the U.S. government’s final environmental assessment, allowing it to proceed with subsequent permitting processes.

In a shareholder letter last month, Chairman Choi emphasized, “Project Crucible will put Korea Zinc at the center of the global critical-minerals supply chain and serve as a foundation for sustainable medium- to long-term growth,” adding, “It will enhance global competitiveness and contribute to stabilizing the critical-minerals supply chain.”

With President Trump himself presenting Korea Zinc’s investment plan as an economic achievement, Chairman Choi’s strategy to expand U.S. supply chains is once again drawing attention.

This article has been translated by GripLabs Mingo AI.