韩国想挖稀土“抗衡中国”，但越南想要更多

Core Viewpoint - Countries are increasingly looking to Vietnam to reduce dependence on Chinese rare earths, with South Korean company LS Eco Energy announcing a nearly $20 million investment in a rare earth processing plant in Ho Chi Minh City [1][3]. Group 1: Investment and Market Dynamics - LS Eco Energy's investment of $19.4 million aims to supply raw materials for its planned magnet factory in the U.S., as multinational companies seek to establish a "de-China" supply chain for critical materials [1][3]. - Vietnam's National Assembly has passed legislation tightening export controls, emphasizing that mineral extraction must align with the development of a closed-loop value chain, avoiding mere raw material exports [1][4]. - Other South Korean companies, such as Trident and POSCO, are also entering the Vietnamese rare earth market, indicating a broader trend of investment in the region [3][4]. Group 2: Regulatory Environment - Vietnam's government has implemented stricter controls on strategic materials, including a new law that prohibits the export of rare earth raw materials, requiring companies to obtain government approval for extraction and processing [4][5]. - The revised law encourages international cooperation in the research and development of rare earth extraction and processing technologies, aiming to enhance the local value chain and ensure self-sufficiency in the rare earth sector [5]. Group 3: Competitive Landscape - Despite efforts from the U.S. and Europe to create a "de-China" supply chain, challenges remain for companies seeking stable supplies of critical materials in Vietnam [6]. - China's dominance in the rare earth industry, controlling over 80% of global processing capacity and 90% of magnet production, presents significant competition for Western companies attempting to rebuild their supply chains [7].