Global Crises Fuel Green Tech, Mineral Race, and Seaweedflation

Global Craze Drives Up Seaweed Prices; US Seeks to Counter China's Mineral Dominance

A global surge in popularity for Korean culture is causing the price of dried seaweed, known as "gim" in South Korea, to rise, impacting consumers in the country, according to the BBC. Meanwhile, the United States is attempting to counter China's dominance in critical mineral supply by forming a trade zone with allies, the BBC reported.

Dried seaweed is a common food item in South Korea. Lee Hyang-ran, a gim vendor in Seoul for 47 years, stated that Westerners used to think Koreans were eating "something weird that looks like a piece of black paper." She added, "I never thought I'd be selling gim to them. But now, they all come here."

In a separate development, the U.S. State Department hosted the first Critical Minerals Ministerial event on Wednesday, attended by countries including the UK, European Union, Japan, India, South Korea, Australia, and the Democratic Republic of Congo, the BBC reported. The goal is to ensure the availability of minerals crucial for manufacturing smartphones, weapons, and other products.

China's green energy sector drove more than 90% of the country's investment growth last year, according to The Guardian. The sector is now larger than all but seven world economies and accounts for more than a third of China's economic growth.