Special Act on National Resource Security

Country / jurisdiction: Korea · Year: 2025 · Status: In force · Level: National · Type: Voluntary

The Special Act on National Resource Security, promulgated on 6 February 2024 and effective from 7 February 2025, establishes comprehensive measures to prepare for and respond to resource security crises by implementing early warning systems, managing supply and demand of core resources and establishing crisis response mechanisms.

The law creates a new framework for resource security governance through several key mechanisms:

Establishes a Resource Security Council chaired by the Minister of Trade, Industry and Energy to coordinate policies

Implements an early warning system to monitor and respond to resource security threats

Requires stockpiling of core resources by designated organisations

Authorises emergency measures during crisis situations, including price controls and supply allocation

Creates a comprehensive information management system for resource-related data

Mandates preparation of crisis response manuals and regular training exercises

Promotes international cooperation, research and development and human resource development in resource security

Designates key supply and demand organisations that must comply with special obligations

Resource security has become increasingly important for national security and economic stability. This law addresses growing concerns about supply chain vulnerabilities and the need to secure stable access to critical resources including energy sources, minerals and materials essential for renewable energy technologies. This legislation strengthens South Korea's resource security by establishing systematic crisis prevention and response capabilities. It enables coordinated government action during resource emergencies while promoting long-term resource security through stockpiling requirements, supply chain diversification and development of alternative materials. The law provides legal basis for government intervention in resource markets during crises, potentially affecting business operations but enhancing overall national resource security.

Official source: https://www.law.go.kr/LSW//lsInfoP.do?lsiSeq=259657&chrClsCd=010202&urlMode=lsInfoP&efYd=20250207&ancYnChk=#0000