The 'Supply Chain Center for Materials, Parts, and Equipment Industries' (hereinafter the Supply Chain Center), which provides comprehensive support for stabilizing the supply chains of our companies, has opened its doors and is actively working to support the self-reliance and diversification of supply chain stabilization items.

The Ministry of Trade, Industry and Energy held a plaque unveiling ceremony for the 'Materials, Parts, and Equipment Industry Supply Chain Center' at KOTRA on the 19th and officially opened it.

The Supply Chain Center became a statutory body last May as the 'Special Act on Materials, Parts, and Equipment' was expanded and amended into the 'Special Act on Materials, Parts, and Equipment and Supply Chains'.

Jang Young-jin, First Vice Minister of Trade, Industry and Energy (Minister Lee Chang-yang, hereinafter the Ministry), who attended the plaque unveiling ceremony, stated, “The global economic order is being reorganized around supply chains, and supply chain management is essential given the characteristics of our economy, which has a high degree of external dependence.” He added, “The Ministry will expand the number of supply chain stability items related to materials, parts, and equipment from the current 119 to 200 in the second half of this year, and will actively support the self-reliance and diversification of supply chain stability items.”

In particular, “by enhancing the Early Warning System (EWS), which detects global supply chain risks in advance and responds preemptively, through the integration of artificial intelligence (AI) and big data, we will identify signs of supply chain anomalies in real time and preemptively block supply chain shocks through contingency plans.”He emphasized that it was dquo;

Following the plaque unveiling ceremony, an industrial supply chain council meeting was held under the auspices of the Supply Chain Center, attended by representatives of industry associations and organizations.

We discussed the impact of recent global supply chain issues on our industry and response measures, including trends in international supply chain cooperation following the recent G7 Summit and legislative developments regarding the European Union (EU) Battery Regulation.

The Supply Chain Center, composed of the Korea International Trade Association (Institute for International Trade and Commerce) and the Korea Machinery Industry Association (a specialized statistical agency for materials, parts, and equipment), with KOTRA (which holds overseas trade offices) serving as the central coordinating body, will carry out tasks such as collecting, analyzing, and disseminating supply chain information, establishing and operating supply chain information systems (early warning systems), and supporting supply chain stabilization projects. In addition, it plans to actively support the supply chain management of Korean companies, including diversifying import sources, establishing production facilities, and providing financial and tax support, by regularly holding industrial supply chain councils together with the Ministry of Trade, Industry and Energy.