Koo Yooncheol: "We Will Expand Financial Support Across the Entire Supply Chain Cycle"
On August 20, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol stated, "A major economic transformation must be supported by stable supply chains," adding, "We will activate financial support for the entire supply chain cycle, including securing resources and managing supply and production."
According to the Ministry of Economy and Finance, on this day, Deputy Prime Minister Koo held the 5th Supply Chain Stabilization Committee meeting and announced the "Comprehensive Financial Support Plan for Supply Chain Stabilization," making these remarks. He emphasized, "Supply chain stability is the lifeblood of major economic transformation," and warned, "If even a single link in the supply chain falters, the speed of innovation will slow and we will fall behind in global competition."
Deputy Prime Minister Koo explained, "By its nature, every stage of the supply chain is organically connected, so we must minimize vulnerable points." He continued, "We will divide the entire supply chain cycle into three stages: resource acquisition, distribution, and production, and expand customized financial support tailored to the characteristics of each stage."
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He also stated, "We have newly reorganized and finalized the list of economic security items and services designated in June last year through today's discussions." He added, "Through this reorganization, we have newly designated key items in four areas: advanced industries such as AI, semiconductors, and secondary batteries; critical minerals essential for our industries; aerospace and defense; and essential goods for daily life." He continued, "In order to achieve real growth through a super-innovative economic revolution, we must mobilize all national capabilities," and pledged, "We will establish a foundation of economic security that is resilient to crises so that our companies can take on the global market."
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