US defense rules spur Korean investment in rare-earth magnets

Ahead of tougher US curbs on Chinese-sourced materials in defense equipment starting next year, South Korean firms are ramping up investments in rare-earth permanent magnets, seeking to capitalize on growing demand for supply chains independent of China. LS Cable & System has announced a 350 billion won ($263 million) investment to build a rare-earth magnet plant in Gumi, North Gyeongsang Province. Another magnet maker, KMMI, has announced a 300 billion won investment to expand its rare-earth an

Source: The Korea Herald