Government promises strategies to secure stable supply networks
In a bid to ensure a stable supply chain in the face of escalating global risks, South Korea's first vice finance minister, Lee Hyoung-il, has instructed government officials to develop measures for addressing potential vulnerabilities. This initiative was announced on July 23, 2025, during an expert committee meeting to discuss economic security items.
The escalating global risks are due, in part, to major economies changing their trade policies and deepening geopolitical conflicts. In response, the ministry is expected to preemptively come up with countermeasures and conduct a thorough inspection to check for supply chain vulnerabilities.
The list of economic security items, which currently consists of 300 critical goods, spans various sectors including manufacturing, defense, cybersecurity, and other areas closely linked to the everyday lives of people. This list is reviewed annually to maintain supply stability. The ministry is also considering revisions to this list.
South Korea is also actively seeking to deepen manufacturing cooperation with the United States through trade talks aimed at achieving full exemptions or reductions of US tariffs and sectoral duties on key imports like cars and steel.
These efforts are part of a broader strategy that also includes strengthening corporate accountability and supply chain transparency. The government is reintroducing mandatory human rights and environmental due diligence bills to meet global ethical standards.
Meanwhile, domestic supply capacity is expected to grow mainly in advanced industries such as ICT, semiconductors, and displays, supported by ongoing investments in digital and green transformation to bolster industrial competitiveness amid external uncertainties.
In summary, South Korea is focusing on targeted government inspections, updating critical economic security items, negotiating tariff relief with the U.S., and promoting ethical and technological advancements to stabilise supply chains amid complex trade negotiations and global risks.
The ministry is expected to preemptively come up with countermeasures in the finance sector, considering potential vulnerabilities in the supply chain as a result of escalating global risks related to major economies changing their trade policies and deepening geopolitical conflicts. The government is also considering revisions to the list of economic security items, which spans various sectors including finance, to maintain supply stability.
