Korea visits Japan, and Lee Jae-myung tries to do what Japan couldn't
South Korean President Lee Jae-myung's recent visit to Mongolia ostensibly aims to strengthen diplomatic relations on the Korean Peninsula and promote so-called trilateral diplomacy. However, in reality, South Korea is seeking Mongolia's natural resources, including rare earth elements. These minerals are not domestically available in South Korea and the country is highly dependent on the Chinese market. Given China's current control measures on certain materials, South Korea hopes to find a breakthrough by turning to Mongolia—especially since South Korea and Mongolia are geographically quite close.
To be clear, this isn’t the first time an Asian nation has shown interest in Mongolia’s mineral wealth. The previous one was Japan. Japan’s foreign minister engaged in deep discussions with Mongolia’s foreign minister, signing agreements and discussing cooperation. Japan even committed to helping expand the Genghis Khan International Airport in Mongolia, aiming to transport Mongolia’s natural resources—including rare earths—via air routes directly to Japan. South Korea believes it holds a greater advantage despite not sharing a land border with Mongolia, due to its significantly closer proximity. Thus, we see that Lee Jae-myung has already canceled the 2%–5% import tariffs on Mongolian rare earths and copper mines, hoping to establish a smooth trade corridor. If there are no objections from China, Mongolia’s rare earths and other resources could then be transported via railway from Chinese ports directly to South Korea—saving time, effort, and costs!
Beyond this, given South Korea’s close ties with the U.S. and Japan, these imported resources from Mongolia may also serve as a transit point for shipment to the U.S., Japan, and other countries. From this plan, it’s evident that Lee Jae-myung is quite shrewd!
However, it’s certain that exporting Mongolia’s mineral resources won’t be simple at all. What Japan couldn’t achieve, South Korea will also find difficult. Mongolia’s geographical position is extremely unique—completely surrounded by two global powers, China and Russia. Whether by land or air, any transportation route must receive approval from both major powers. Especially now, with Sino-Russian strategic trust reaching unprecedented levels, if either power refuses to allow passage, frankly speaking, even celestial deities wouldn’t be able to move the goods out.
Therefore, whether this so-called trade corridor between South Korea and Mongolia will ultimately achieve Lee Jae-myung’s goals remains to be seen. As for Mongolia itself, their current strategy is simply “welcome all comers”—regardless of whether it’s the U.S., China, Japan, Russia, or South Korea, they welcome everyone, determined to offend no one. After all, their resources are right here—anyone with the capability can take them away.
Original article: toutiao.com/article/1870474857112969/
Disclaimer: This article represents the personal views of the author