Ministry of Finance and Economy holds expert roundtable on supply chains

Officials discuss structural reforms to address risks from Middle East conflict

Cross-ministry integrated early-warning system demonstrated, to strengthen real-time risk detection

Heo Jang, vice minister of the Ministry of Finance and Economy [Ministry of Finance and Economy]
Heo Jang, vice minister of the Ministry of Finance and Economy [Ministry of Finance and Economy]

The government has moved to review its supply chain structure and crisis-response framework amid growing global supply chain instability fueled by the ongoing Middle East war. Starting in the second half of this year, it plans to pilot a cross-ministry integrated supply chain early-warning system (EWS) to enable real-time detection and analysis of supply chain risks.

The Ministry of Finance and Economy said Wednesday it held an expert roundtable on "improving supply chain stability following the Middle East war" at the Government Seoul Complex, chaired by Second Vice Minister Heo Jang and attended by state-run research institutes, academics and private-sector companies. The session was convened to assess supply chain vulnerabilities stemming from heightened tensions in the Middle East and to discuss structural reforms aimed at strengthening supply chain resilience.

At the meeting, the Korea Institute for International Economic Policy (KIEP), the Korea Institute for Industrial Economics and Trade (KIET) and the Korea Development Institute (KDI) presented on supply chain structural reform tasks following the Middle East war. Participants said supply chain risks are expanding amid intensifying geopolitical conflicts and competition for technology dominance, and called for improving supply chain stability for key items through expanding domestic production, building stockpiles and diversifying import sources.

The government also demonstrated the cross-ministry supply chain EWS Wednesday. The new system digitizes the current manual-based supply chain monitoring framework and links information scattered across individual ministries, enabling real-time sharing and analysis. Through this, the government plans to detect warning signals before a supply chain crisis materializes and accelerate coordinated responses among relevant agencies.

"In an environment of expanding uncertainty, such as the current situation in the Middle East, the ability to detect supply chain risks in advance and respond proactively is more important than reacting after the fact," Vice Minister Heo said. "We will continuously monitor supply chain conditions and thoroughly pursue stabilization measures to minimize the impact of Middle East instability on domestic industries and people's livelihoods."

The roundtable was attended by HMM and Namhae Chemical — both designated leading operators under the Supply Chain Stabilization Act — as well as Yonsei University, KIEP, KIET, KDI and the Korea Institute of Geoscience and Mineral Resources. Participants shared supply chain difficulties they face on the ground and offered suggestions to improve the effectiveness of government policy.

Going forward, the government said it plans to broadly gather input from research institutes, academia and industry as it develops supply chain structural reform measures, with the aim of strengthening the on-the-ground relevance of its policies.


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