South Korea and the US Agree to Jointly Address Economic Security Issues... Discussion on 'Supply Chain'

[Asia Economy Reporter Lee Ji-eun] South Korea and the United States have agreed to jointly address economic security issues such as global supply disruptions.

Lee Seong-ho, Director-General for Economic Diplomacy Coordination at the Ministry of Foreign Affairs, and Daniel Kritenbrink, U.S. Assistant Secretary of State for East Asian and Pacific Affairs, met on the afternoon of the 11th at the Ministry of Foreign Affairs building in Seoul, where the Ministry stated, "They agreed to jointly respond to frequent global supply disruptions and other economic security issues."

Both sides also acknowledged that the two countries have close cooperation in various areas including supply chains, core technologies, vaccines, and climate change response.

Furthermore, they agreed to accelerate policy coordination for the transition to eco-friendly energy and to prepare for the successful holding of the upcoming Korea-U.S. Senior Economic Dialogue (SED) scheduled for next month.

Assistant Secretary Kritenbrink also discussed Korea-U.S. supply chain cooperation measures in key sectors such as semiconductors and electric vehicle batteries with Jeong Dae-jin, Vice Minister for Trade at the Ministry of Trade, Industry and Energy, agreeing to continue close consultations going forward.

Vice Minister Jeong conveyed South Korea’s position on recent Korea-U.S. issues including the U.S. government’s semiconductor supply chain data requests and Section 232 on steel.

The U.S. Embassy stated on Twitter regarding this meeting, "We exchanged views on partnerships related to critical and emerging technologies to promote shared security and prosperity."

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