- Choi Yun-birm, the Chair of Korea Zinc, has been invited to attend a meeting of the U.S. and South Korean business leaders in Gyeongju.
- The South Korean firm agreed to invest $85 million in The Metals Company in June, which enabled it to acquire a 5% stake in the deep-sea mining firm.
- The U.S. is looking to ramp up production of critical minerals to reduce its reliance on China.
TMC stock drew bullish chatter late on Tuesday on Stocktwits after media reports said that the U.S. has invited Choi Yun-birm, the Chair of Korea Zinc, a strategic investor in the deep-sea mining firm, for a business roundtable on the sidelines of President Donald Trump’s visit to South Korea.
According to South Korea’s Chosun Daily newspaper, citing government sources, U.S. Secretary of Commerce Howard Lutnick will host a summit of key U.S. and South Korean business leaders at the Gyeongju Arts Center at 5 p.m. local time on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation summit. The other attendees include the chairs of Samsung Electronics, SK Group, Hyundai Motors, and LG Group.
The report added that the meeting will be a reciprocal event after the U.S.-South Korea business roundtable organized after South Korean President Lee Jae-myung’s summit with Trump in Washington, D.C., last August. Back then, Korea Zinc signed a non-binding agreement to supply germanium to Lockheed Martin under a long-term contract starting in 2028.
What Is Retail Thinking?
Retail sentiment on Stocktwits about TMC stock was in the ‘bearish’ territory at the time of writing, amid recent declines spurred by the increased hopes of a trade deal between the U.S. and China.
However, retail chatter indicated that the overall mood could change quickly.
One retail trader hoped that the stock could hit $8 soon.
Another trader expected a positive development to be announced soon, possibly including regulatory approval or contracts with defense manufacturers.
Why Did Korea Zinc Become A TMC Shareholder?
The South Korean firm agreed to invest $85 million in The Metals Company in June, which enabled it to acquire a 5% stake in the deep-sea mining firm. The Korean firm also obtained a bulk sample of nodule material from the seabed to test processing and refining pathways.
“Korea Zinc is probably the only company outside of China that has the capability to take TMC USA’s materials and turn them into metal product formats required in the United States,” TMC CEO Gerard Baron said in June.
The U.S. is looking to ramp up production of critical minerals to reduce its reliance on China, which has used them as a bargaining chip in trade negotiations. Trump also issued an executive order to expedite the approval process of deep-sea mining.
TMC stock has jumped over sixfold this year.
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