An Era Where the Economy Is Uncertain... "Forming a TF for Active Response"

[Asia Economy Reporter Park Sun-mi] The Federation of Korean Industries (FKI) is forming an ‘Economic Security Task Force (Economic Security TF Team)’ to respond to the era of economic security.

On the 23rd, FKI announced that through the Economic Security TF Team, it will establish measures at the business community level to address recent issues in the field of economic security, such as securing global supply chains, ensuring stable supply of resources and parts, and preparing countermeasures to prevent industrial technology leakage. The business sector plans to identify supply chain improvement tasks that can be jointly promoted and propose solutions to the government to alleviate supply chain-related difficulties faced by companies.

In particular, as a measure to secure supply chains, it explained that it is considering overseas IR events to attract investment from overseas small, medium, and specialized materials and parts companies with global market dominance to Korea.

FKI plans to propose amendments and improvements to technology security-related laws and policies such as the Industrial Technology Protection Act and the Foreign Trade Act, which prevent technology leakage and control exports, to suit the era of economic security. It will also promote the importance of industrial technology protection through related seminars. Additionally, as part of supply chain improvement measures, it announced plans to discover policy measures to revitalize overseas resource development, which has been shrinking.

FKI Vice Chairman Kwon Tae-shin said, “In the era where the economy becomes security, we plan to minimize the difficulties companies may face and strive to lay the foundation so that this can be used as an opportunity to enhance the national status.”