June 4, 2023

Canada and South Korea have signed a memorandum of understanding on provide chains of vital minerals and clear vitality transition.

Prime Minister Justin Trudeau reached an settlement with South Korean President Yoon Suk-yeol throughout an official go to to Seoul on Wednesday, the place additionally they introduced a brand new youth mobility settlement.

The Prime Minister’s Workplace says each nations can play a “main position” as “dependable companions” on the subject of the provision chain for electrical automobiles and demanding minerals wanted to make batteries.

The announcement comes because the federal authorities of Canada is in a dispute with automaker Stellantis, which has suspended development of an electrical car battery plant in Windsor, Ontario, in partnership with South Korean battery maker LG Vitality Answer.

Each nations have launched Indo-Pacific methods over the previous yr, that are roadmaps for strengthening navy and financial relations within the area to counterbalance Beijing’s affect.

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The brand new youth mobility settlement with an annual quota of 12,000 will present new alternatives for youth work in each nations.

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Trudeau to go to South Korea forward of G7 summit in Japan

Trudeau addresses the Nationwide Meeting

Trudeau mentioned authoritarianism is gaining momentum in an handle to South Korea’s Nationwide Meeting on Wednesday morning.

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The Prime Minister is in Seoul for his first official go to to South Korea, in addition to visits to Canada to strengthen ties between the 2 nations and turn into “greatest pals.”

In his handle, he says that “antagonistic nations” use financial interdependence for their very own geopolitical pursuits.

Trudeau’s go to to South Korea follows each nations’ commitments to strengthen financial and navy ties to counterbalance China’s affect.

Trudeau goes on to inform parliamentarians that “the world goes by a second of uncertainty” as nations get well from the COVID-19 pandemic, whereas financial nervousness and local weather change add stress to folks’s lives.

He argues that Canada and South Korea may be companions in tackling local weather change, which he says can be a approach to shield towards geopolitical instability and create a extra resilient financial system.

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South Korean President Yoon warns Congress of rising risk from North Korea

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