South Korea's demand for key minerals for electric vehicles and wind power is projected to increase 19-fold by 2040, according to KEEI.

South Korea's demand for key minerals, like lithium, nickel, manganese, cobalt, neodymium, praseodymium, dysprosium, and terbium, is expected to soar 19-fold by 2040 due to the expansion of electric car and wind power industries, according to a report by the Korea Energy Economics Institute (KEEI). This is due to the increased sales of electric vehicles in the country, forecasted to increase by 11 times by 2040.