Korea Allocates $3.5 Billion Fund to Strengthen Supply Chain Management

In this video, we delve into South Korea's strategic initiative to bolster its supply chain management. The government has announced a 5 trillion won ($3.59 billion) fund to support companies in securing critical raw materials and products heavily reliant on imports. This comprehensive plan, led by Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok, aims to enhance the security and stability of Korea's supply chains amid growing global risks.

The fund will finance research and development (R&D) projects focused on essential technologies and offer below-market rate loans to businesses that reduce dependency on foreign sources. Eligible companies include those diversifying import channels or developing alternative technologies to strengthen domestic manufacturing capabilities. The initiative also expands the list of "economic security-related items" and provides tax credits for manufacturers relocating production back to Korea.

Stay informed about the latest developments in global trade and supply chain management by visiting our website: supplychainreport.org.


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