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Korea Zinc and Lockheed Martin Forge Strategic Partnership, Signing an MOU on Germanium Supply and Procurement Under the Shared Commitment of Establishing a Resilient Supply Chain
Yun B. Choi, Chairman of Korea Zinc (KRX:010130), the world's largest zinc smelter, has signed a Memorandum of Understanding (MOU) with Lockheed Martin, the world's leading defense company, on August 25 for the supply and procurement of germanium and cooperation in the critical minerals supply chain. This MOU, pursued in line with ongoing Korea-U.S. discussions on economic security cooperation, carries great significance as it leads the establishment of a "China-free" critical minerals supply ch
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SEOUL, South Korea, Aug. 26, 2025 /PRNewswire/ -- Yun B. Choi, Chairman of Korea Zinc (KRX:010130), the world's largest zinc smelter, has signed a Memorandum of Understanding (MOU) with Lockheed Martin, the world's leading defense company, on August 25 for the supply and procurement of germanium and cooperation in the critical minerals supply chain. This MOU, pursued in line with ongoing Korea-U.S. discussions on economic security cooperation, carries great significance as it leads the establishment of a "China-free" critical minerals supply chain, and marks the first successful case of Korea-U.S. collaboration in the field of critical rare metals. The signing ceremony was attended by the representatives of Korea Zinc, namely Yun B. Choi, Chairman of Korea Zinc, Mookyung Jung, President of the Sustainability Management Unit, and Kijune Kim, Executive Vice-President of the Sustainability Management Division. The attending Lockheed Martin representatives included Michael Williamson, President of Lockheed Martin International, accompanied by Nancy Ziuzin Schlegel, Corporate Vice President and David Sutton, Director. Both companies agreed to take the recent Korea-U.S. summit as an opportunity to accelerate the establishment of a China-free critical minerals supply chain at the private-sector level, and to work together to create a successful example of supply chain cooperation. The MOU stipulates that Korea Zinc will supply Lockheed Martin with germanium smelted (covering the entire process from mining to production) outside of China, North Korea, Iran, and Russia, and that Lockheed Martin will pursue an off-take agreement, securing priority rights to procuring this output. Based on the MOU, Korea Zinc and Lockheed Martin will be beginning detailed discussions toward signing a long-term contract. Lockheed Martin, formed in 1995 through the merger of Lockheed and Martin Marietta, is the world's largest defense contractor, notably producing the F-22 Raptor and F-35 stealth fighters, the Aegis Combat System, and the Patriot missile system. As of the end of 2024, its order backlog reached a record high of USD 176 billion (approximately KRW 246 trillion). The company has maintained a cooperative relationship with the South Korean government and local industries for more than 40 years, ranging from assembly production of UH-60 helicopters...
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