Why iShares MSCI Korea ETF (EWY) rose 4.21%
iShares MSCI Korea ETF (EWY) rose 4.21% on September 22, 2026 — Korea Zinc's $7.4B project clears US review.
What happened
Korea Zinc's $7.4 billion Project Crucible advanced metals facility in the US cleared a major environmental review, removing a key permitting hurdle for the Korean-backed project.
Why it moved
The regulatory clearance dramatically lowers execution risk and signals government backing for critical mineral supply expansion, boosting sentiment toward Korean industrial and tech exporters who benefit from stable…
Why it matters
Korea Tech theme gains momentum as the region consolidates its role in the AI and advanced manufacturing supply chain; Project Crucible's approval reinforces Korea as a reliable partner for US critical infrastructure,…
What would break the thesis
If US agencies reopen the environmental review or impose material new conditions, project feasibility and Korean sentiment could reverse sharply.