Int'l drill on supply chain crisis response to be held in Korea

Korea is set to host a joint drill on responding to a possible global supply chain crisis Wednesday, the industry ministry said, amid the growing importance of critical minerals in key industries. The joint exercise of the Crisis Response Network (CRN) will be held to boost cooperation among CRN members and enhance their capabilities in jointly responding to possible supply chain disruptions in the Indo-Pacific region, according to the Ministry of Trade, Industry and Resources. Korea currently serves as the chair of the CRN, one of three pillars of the Indo-Pacific Economic Framework (IPEF). The IPEF, launched by the United States in 2022, comprises 14 member nations, including Japan, Australia, India and New Zealand. This year, the CRN plans to conduct a simulation exercise involving a scenario in which IPEF member nations face supply shortages of critical minerals and a sharp rise in prices due to unexpected shutdowns of related facilities. "Supply chain stability is more important than ever, as critical minerals are essential to achieving carbon neutrality and sustaining the competitivWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times