South Korea and Luxembourg have agreed to strengthen cooperation in the areas of aerospace and critical mineral supply chains.

Moon Dong-min, the head of the industry ministry's office of international trade and investment, held a meeting with Luxembourg's economy minister Franz Fayot on Tuesday and discussed ways to expand bilateral trade and cooperation in high-tech industries.

In the meeting, minister Fayot said that Luxemburg is seeking a transition from a finance industry-centered economy to high-tech manufacturing such as aerospace and eco-friendly technology, expressing hope for cooperation with South Korea in energy supply chains.

Moon responded that the European country will see various opportunities for cooperation with South Korea, which has the infrastructure for composite materials, semiconductors and the aerospace industry.

The two sides also agreed to enhance cooperation in supply chains through the Minerals Security Partnership, an initiative to bolster critical mineral supply chains.

The meeting took place at a ceremony marking the completion of a plant in Asan of Rotarex Korea, a global manufacturer of gas control products.