Mu-hyup Launches 'Global Supply Chain Private Monitoring Task Force'

[Image source=Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] The Korea International Trade Association (KITA) announced on the 9th that it has launched the "Global Supply Chain Private Monitoring Task Force (TF)" at the Trade Tower in Samseong-dong, Seoul.

At the TF launch ceremony, 10 companies participated, including general trading companies such as KITA, the Korea Importers Association, Samsung C&T, GS Global, and LX International, as well as export companies like Hyundai Motor Company, SeAH Steel, Exicon, Jusung Engineering, and Iljin Group.

KITA plans to regularly monitor overseas market trends and domestic supply and demand situations of key core items by combining the domestic and international networks of TF companies with the analytical capabilities of the Korea Institute for International Trade and Commerce. In case of detecting any abnormal signs, it will share information with the government and coordinate joint responses.

Lee Gwan-seop, Vice Chairman of KITA, stated, "Global supply chain issues such as the shortage of urea solution require a complex response from both the public and private sectors," adding, "The association will strengthen the domestic and international monitoring functions of private trading companies and export-import firms and work closely with the government to prevent and respond early to a second urea solution shortage crisis."

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