Ministry of Science and ICT Launches ICT Global Supply Chain Stabilization Task Force... Discusses Measures with Samsung, LG, and Three Major Telecom Companies

[Asia Economy Reporter Eunmo Koo] The Ministry of Science and ICT (MSIT) held a kickoff meeting on the 29th for a dedicated task force aimed at stabilizing the global ICT supply chain, involving major companies and experts in the information and communication technology (ICT) sector, as well as related associations and organizations.

MSIT explained, "This meeting was held to review issues such as product manufacturing and parts procurement caused by the restructuring of the global supply chain, including semiconductors, and supply chain bottlenecks, and to discuss measures to stabilize the supply chain so that disruptions do not become obstacles to economic recovery."

The meeting, chaired by Cho Kyung-sik, the 2nd Vice Minister of MSIT, was attended by key domestic ICT companies such as Samsung Electronics, LG Electronics, and the three major telecommunications companies, as well as supply chain experts from academia, the National IT Industry Promotion Agency, the Korea Network Industry Association, the Korea Software Industry Association, and other related organizations.

The agenda focused on ▲analysis of the global supply chain in the information and communication industry ▲recent supply chain trends related to the US-China technological hegemony competition ▲and exploration of areas with high demand for supply chain management.

Companies and associations expressed concerns that exports of domestic ICT companies might slow down due to global uncertainties caused by supply chain restructuring, and requested the government to continuously strive to secure a stable supply chain through policies supporting the localization of core components and diversification of imports in the future.

Vice Minister Cho Kyung-sik stated, "To reduce global uncertainties and maintain the favorable export trend, the public and private sectors will work together to identify and consistently manage vulnerabilities and opportunities in the supply chain."

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