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Increasing supply chain risks and Implications for Korea

Author

Listed:
  • CHOI, Wonseok

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • HAN, Hyoungmin

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

Abstract

This study starts by highlighting how geopolitical factors, such as the US-China conflict and the Russia-Ukraine war, are reshaping global supply chains. The US-China conflict, marked by tariff wars and policy shifts, particularly affects key sectors like semiconductors and batteries. These conflicts reveal vulnerabilities in supply chains concentrated in specific countries and have been exacerbated by external factors like the COVID-19 pandemic. From these results, it suggests strategies for Korea in response to these global supply chain changes. These include stabilizing supply chain cooperation with the U.S. and China, strengthening connections with emerging countries, and forming multilateral or bilateral supply chain alliances.

Suggested Citation

  • CHOI, Wonseok & HAN, Hyoungmin, 2023. "Increasing supply chain risks and Implications for Korea," World Economy Brief 23-40, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2023_040
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    Keywords

    Global Value Chain; US-China conflict;

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