Korea’s Global Value Chain Strategies amid Rising Trade Disputes

Wonseok Choi ()
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Wonseok Choi: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP), Postal: [30147] Building C Sejong National Research Complex 370 Sicheong-daero Sejong-si Korea,, https://www.kiep.go.kr/eng/

No 24-6, World Economy Brief from Korea Institute for International Economic Policy

Abstract: This article explores the challenges and transformations in global economic governance, particularly in the context of China's rise, widening trade disputes, and the retreat of globalization. It discusses the reorganization of global supply chains and their implications for Korea, focusing on the policies of key countries like the United States, the European Union (EU), and China towards stabilizing and reorganizing supply chains, with an emphasis on transitioning to a green industrial structure and improving domestic industrial competitiveness, particularly in the semiconductor and secondary battery industries. Accordingly, this article analyzes Korea's dependency on imports for semiconductors and secondary batteries, noting significant increases in imports and the diversification of import sources. The analysis reveals Korea's high import dependence on specific countries for critical goods and materials, emphasizing the importance of supply chain cooperation with countries that have global export competitiveness.

Keywords: Global Supply Chain; Trade Disputes; Semiconductor; Secondary Batteries (search for similar items in EconPapers)
Pages: 6 pages
Date: 2024-03-14
New Economics Papers: this item is included in nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepwe:2024_006

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