Kim Yunsang, Deputy Minister of Economy and Finance, "Will Spare No Effort to Support Stabilization of Corporate Supply Chains"

Visit to Daegu Seongrim Advanced Industry Hyeonpung Factory on the 24th

Kim Yunsang, Second Vice Minister of the Ministry of Economy and Finance, visited Seongrim Advanced Industry Hyeonpung Plant located in Dalseong-gun, Daegu on the 24th to tour the permanent magnet manufacturing process and emphasized, "We will spare no support to stabilize the supply chain of companies."

Vice Minister Kim stated, "With the implementation of the Supply Chain Stabilization Act at the end of June, we plan to strengthen the response system, including the establishment of a pan-government supply chain control tower," adding, "To support companies' efforts to stabilize supply chains, we will create a stabilization fund of up to 5 trillion won at the Export-Import Bank in the second half of the year, and also announce a three-year basic plan containing a pan-government promotion strategy and comprehensive policy measures to enhance economic security and supply chain stabilization."

Vice Minister Kim also emphasized, "The government will designate critical minerals such as rare earths as economic security items and strengthen stockpile management. At the same time, through fiscal measures and the stabilization fund, we will spare no support for supply chain stabilization, including internalizing the corporate value chain and developing alternative technologies (R&D)."