KOTRA Holds Briefing on 'Global Supply Chain Restructuring'... Exploring Response Strategies

Supply Chain Forum, Related Organizations Networking, and Comprehensive Supply Chain Consulting Events Held

[Asia Economy Reporter Park Sun-mi] KOTRA announced on the 11th that it held an event titled ‘New Trends and Opportunities in Global Supply Chain Restructuring’ to explore response strategies and new solutions for Korean companies amid difficulties in the global supply chain.

The event consisted of ▲Global Supply Chain Forum ▲On-site Supply Chain Consulting ▲Networking Event with Supply Chain-related Organizations. At the Global Supply Chain Forum, domestic and international experts gave comprehensive presentations on global supply chain trends, including the recent focus on the restructuring of the U.S. semiconductor industry supply chain and raw material demand trends due to the European Union (EU)’s transition to eco-friendly energy. The event attracted over 200 companies and stakeholders interested in supply chains, generating high enthusiasm.

Professor Oh Jun-seok of Sookmyung Women’s University presented on ‘Trends and Patterns in Global Supply Chain Restructuring,’ and Kim Ba-u, a senior researcher at the Korea Institute for Industrial Economics and Trade, proposed ‘Impacts on Domestic Manufacturing and Response Strategies amid Supply Chain Crises.’

Due to recent expanded fluctuations in raw material prices, Kim Jun-won, head of the Price Information Technology Research Institute at Korea PDS, discussed the ‘2022 Global Raw Material Market Outlook and Implications.’ Jimmy Goodrich, Vice President of the Semiconductor Industry Association in the U.S., and Chris Herron, Director of External Relations at the European Metals Association, participated via video speech to present supply chain issues related to key regional industries such as semiconductors and renewable energy transitions.

Additionally, the event provided customized on-site consulting for companies to help them create new business opportunities by leveraging supply chain restructuring. Over 70 one-on-one consultations were conducted between KOTRA experts and companies, covering topics such as raw material supplier investigations, value chain entry counseling for industries like automotive and semiconductors, and M&A consulting related to supply chains, reflecting strong corporate interest and shared concerns for new solutions.

Furthermore, to effectively respond to global supply chain restructuring, KOTRA invited government and related organizations, as well as industry associations, to create a cooperative networking platform. Through building a public-private network, they aimed to enhance expertise, consolidate capabilities, collaborate on supply chain restructuring responses, and discuss support measures to minimize difficulties faced by Korean companies.

Jung Woi-young, Head of KOTRA’s Innovation Growth Division, stated, “Currently, our companies stand at a crossroads of opportunity and crisis amid global supply chain restructuring. KOTRA will serve as the vanguard of national economic security by monitoring overseas supply chains, discovering alternative suppliers by item, and establishing both regular and emergency support systems for supply chains. We will make every effort through various supply chain projects to support the stabilization of our companies’ supply chains.”

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