The Korea-Canada Project Exploration and Investment Collaboration Business Forum was held at the Four Seasons Hotel in the Jongno district of Seoul on Oct. 25.
The Korea Trade Insurance Corporation (K-SURE) held a joint meeting with the Export Development Canada (EDC) on Oct. 25 to strengthen the export and investment collaboration between South Korean and Canadian companies.
This event marked the first joint effort between the two major national export support institutions since the establishment of the EDC’s Korean office. It witnessed the participation of 15 companies from both nations, including South Korean firms venturing into the North American market in sectors such as battery separators and Small Modular Reactors (SMR), as well as Canadian clean energy enterprises.
Both organizations discussed Canada’s primary national strategic initiatives, project exploration opportunities, and provided insights for Korean firms aiming to enter the North American market, considering investing in Canada. They touched upon Canada’s “Key Mineral Strategy” to transform itself into a global supply chain hub for stable eco-friendly and digital industries, as well as points of attention during the permitting process, negotiations with indigenous communities, and other considerations for Korean firms planning market entry into North America.
A financial support case was also highlighted. Solus Advanced Materials, a battery material company that attended the event, is expected to contribute to the stability of the North American battery and electric vehicle supply chain by producing core materials sufficient for 450,000 electric vehicles annually, once its battery cell factory in Quebec, Canada — co-financed last year by both K-SURE and EDC to the tune of about 200 billion won — is completed.
K-SURE and EDC had also signed a business agreement last month to cooperate on entering and expanding investments in key mineral and renewable energy projects in regions encompassing North America and Indo-Pacific Asia.