As for domestic transaction status, according to the United Nations’ COMTRADE database as of 2020, the amount of molybdenum

exported to Korea from Chile alone was KRW 255.6135 billion, and the total amount exported to Korea from other countries is

estimated to be KRW 729.4 billion.

As such, it is an industrial raw material that is essential for stainless steel and chrome steel, which is an automobile interior material,

and is one of the rare minerals indispensable to the overall industry. However, while North Korea has had some molybdenum mines,

until 2020 the Republic of Korea (South) had none, with all materials imported from China and Chile.

In the meantime, in 2021, molybdenum deposits were discovered in a mine located in Yeongdeok-gun, Gyeongsangbuk-do, Korea. This

mine could possibly produce 50 to 70 tons of molybdenum per month depending on the reserves of the mine when mining it using a

wet method.