Government: "US Supply Chain Review, We Will Strive to Expand Opportunities for Korean Companies' Participation in Global Supply Chains"

[Asia Economy Reporter Jusangdon] The government announced on the 9th that it will "continue to strive to expand opportunities for our companies to participate in the global supply chain" in response to the United States' supply chain strengthening strategy for four major items including semiconductors and batteries.

On the same day, the Ministry of Trade, Industry and Energy stated in a press release, "Since the announcement of the U.S. executive order, our government has been operating a pan-government and public-private cooperation system to prepare for the establishment of a stable supply chain for key items such as semiconductors," adding, "Especially, at the Korea-U.S. summit on the 21st of last month, significant progress was made in bilateral cooperation to stabilize the supply chain, including mutual investment and research and development (R&D) cooperation for key items such as semiconductors."

On the 8th (local time), the U.S. government released a 100-day review report on the four major items under the supply chain executive order announced on February 24. The report proposed policy support measures such as expanding domestic production capacity and investment in R&D, as well as supply chain stabilization plans through cooperation with allies and partner countries.

Following the announcement of the U.S. executive order, our government activated the Industrial Security Task Force (TF) and held ten inspection meetings. The TF, led by the Vice Minister of the Ministry of Trade, Industry and Energy, was composed of the Industry Division, Energy Division, and Trends Division, with first-level officials serving as team leaders. On April 22, a Korea-U.S. director-level supply chain consultation was held, demonstrating a pan-government response.

This content was produced with the assistance of AI translation services.