Choi Sang Mok, Deputy Prime Minister and Minister of Strategy and Finance, stated on the 25th, “We will strengthen the protection system for our core competencies and strictly respond to technology leaks. We will also improve the investment conditions to build a solid foundation that does not sway by external factors.”
Choi presided over the Foreign Economic Ministers Meeting at the Government Complex Seoul on the same day, saying, “We will prepare and implement a strategy to respond to the restructuring of the global supply chain before the implementation of the Supply Chain Stabilization Act on June 27.”
Choi emphasized, “We will also increase our bargaining power so that we can smoothly cooperate with other countries when an actual crisis occurs.”
He continued, “We will systematically manage and utilize government negotiation assets such as various dialogue channels and human networks for each major country,” adding, “We will also establish a government-wide platform system so that related ministries and agencies can respond flawlessly as a single team in case of emergency.”
Choi stated, “We plan to improve our capability for supply chain crisis response together with countries in the Indo-Pacific region, including the United States and Japan.”
He added, “We are going to strategically utilize the Indo-Pacific Economic Framework (IPEF) Supply Chain Agreement to quickly secure available resources in the region during a supply chain crisis and participate in key mineral dialogues. We will also promote various cooperation programs with resource-rich countries in the region to fully prepare for the diversification of the supply chains in advanced high-tech industries.”