With increasing demand for resources worldwide, Korea has been negotiating with resource-holding countries to achieve conservation of energy resources. Among them, Russia is the third largest resource-producing and exporting nation in the world and has several resource materials such as nickel, platinum group metals, gold, and other reserves. As a result, there is growing interest in cooperation between Korea and Russia. The aim of this article is to summarize the current status of market flow of Russian energy resources as well as Russia’s economic cooperation with Korea. Notably, South Korea needs to focus on investing in overseas mines for a stable supply of rare metals. Nevertheless, securing rare metals is a major task by understanding the flow and policy direction of Russian material mines.

Rare earth elements (REEs) are considered to be vital to modern industry due to their important roles in applications such as permanent magnets, automobile production, displays, and many more. The imbalance between demand and supply of REEs can be solved by recycling processes. Regarding the needs of industry and society, the International Organization for Standardization, Technical Committee 298 (ISO/TC298) Rare Earths has been recently launched for developing international standards on rare earth elements. In accordance with the suggestion of its constituents, it is tentatively working to develop the appropriate standards under five working groups (WG) on terms and definitions (WG1), element recycling (WG2), environmental stewardship (WG3), packaging, labelling, marking, transport, and storage (WG4), and testing analysis (WG5). The scope and structure of ISO/TC298 on the topic of rare earths is discussed in this document.

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