Global Supply Chain Analysis Center Holds Cooperation Meeting with 29 Related Organizations

29 Partner Organizations Participate... Assessing Challenges of Russia-Ukraine Crisis and China's Regional Lockdowns

Expansion and Reorganization of Partner Institutions for the 'Global Supply Chain Analysis Center'

[Asia Economy Reporter Park Sun-mi]The Global Supply Chain Analysis Center held a 'Supply Chain Related Agencies Cooperation Meeting' on the 21st at the Trade Tower in Samseong-dong.

The Global Supply Chain Analysis Center, the first domestic permanent and specialized analysis institution for global supply chain issues launched on February 9, was attended by 29 cooperating organizations including the Korea International Trade Association, the Ministry of Trade, Industry and Energy, and major industry associations.

In his greeting, Director Cho Sang-hyun said, "Due to successive supply chain shocks such as the COVID-19 pandemic and the Russia-Ukraine situation, our companies are experiencing various difficulties including logistics shortages, soaring raw material prices, and supply disruptions," adding, "The Global Supply Chain Analysis Center will closely cooperate with government ministries and industry groups to establish a crisis response system for building stable supply chains for our companies."

At the meeting, following presentations by the Strategic Materials Research Institute on 'Export Controls and Sanctions Trends on Russia by the U.S. and Others' and by the Korea Institute for Industrial Economics & Trade on 'Background of Raw Material Price Increases and Domestic Impact,' the current status and difficulties of industries caused by recent supply chain disruption factors such as the Russia-Ukraine situation and China's COVID-19 lockdown measures were reviewed.

Meanwhile, since its launch, the Global Supply Chain Analysis Center has been supporting the operation of the 'National Early Warning System (EWS)' by conducting in-depth analysis of domestic and international trends collected from cooperating organizations and promptly disseminating detected anomalies related to supply chains and recommending countermeasures. It also supports policy and strategy formulation to strengthen supply chain management capabilities. Since March, it has been publishing the weekly specialized analysis report on supply chain issues, 'Global Supply Chain Insight,' every Thursday. Subscription applications can be made through the Korea International Trade Association or KOTRA.

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