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The Korean government is making moves to secure its share of natural resources.
The Ministry of Knowledge Economy said Monday that it will increase its national reserves of rare earth elements to provide Korean companies with enough supplies to maintain normal production for up to one-hundred days by 2014.
The ministry had earlier announced plans to increase its current four-days worth of stockpiles to 60-days by 2016.
The change in plan follows China's recent announcement to set a quota on exports sparking a global struggle to secure supplies.
China currently provides 97 percent of the world's rare earth elements which are used in electrical products like cellphones and hybrid cars.
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