You are currently viewing South Korea makes fresh amends to safeguard local supply chain
Economic Supply Chain Management Committee

South Korea makes fresh amends to safeguard local supply chain

In the backdrop of surging inflation in the United States of America and consumer inflation growing, South Korean government took stern steps to fund and safeguard the local companies for supply of raw material for manufacturing and exporting in case of shortage.

The authorities announced that a new ‘Economic Supply Chain Management Committee’, would be assigned to manage and meet challenges in supply chain. South Korea is home to several global giants including – Hyundai and Kia corps, LG.

The inflation has resulted increase in prices of right from daily essentials to computer chips, and is likely to continue with its upward trend. This has concerned economists and policy makers all over the world.