Topic: 2024-Supply Chain Stability
Country: Republic of Korea
Delegate Name: Hayden Graham
Country: Republic of Korea
Committee: SPECPOL
Topic: Supply Chain stability
Delegate: Hayden Graham
School: Williamston High School
The Republic of Korea recognizes that supply chain stability is critical for ensuring economic resilience fostering Innovation and enhancing National Security. As a key player in the global economy, the ROK is committed to maintaining robust supply chains that can withstand disruption from natural disasters, geopolitical tension, or unexpected global crises such as pandemics. Supply chain stability is fundamental to the Republic of Korea’s Economic growth and Global competitiveness. As one of the most export-driven economies, Korea heavily relies on International Supply chains from various Industries, including Electronics, automobile manufacturing, and semiconductors. Ensuring the stability of these Supply chains is vital for productivity and reduced production costs Economic Development and job creation. ROKs are technological and Manufacturing sectors that depend on the timely delivery of parts and materials. Any disruption that jeopardizes its position as a leader in these fields is also vital for allowing a firm to focus on research and development instead of Crisis management thus promoting innovation.
The Republic of Korea acknowledges several key challenges to supply chain stability such as escalating tensions, particularly in the Asia Pacific region, post risk to supply chain continuation. Along with the frequency and intensity of natural disasters can disrupt Logistics and transport routes. A final reason is the COVID-19 pandemic which illustrates how quickly Global Supply chains can be affected.
To address these challenges and improve supply chain stability ROK advocates for encouraging companies to diversify their Reliance on a single source. Along with promoting the development and adoption of advanced technologies such as AI, blockchain, and IoT which can enhance transparency, traceability, and efficiency. Another reason is engaging in multilateral dialogue and collaboration to share best practices and enhance the collective resilience of Supply chains globally, also emphasizing the integration of sustainability into the Supply Chain. Management to ensure long-term visibility and compliance with global environmental standards
ROK believes that International cooperation is essential in fostering supply chain stability. The nation actively participates in organizations and agreements that promote trade and economic cooperation such as engaging with neighboring countries to enhance regional supply chain resilience and also strengthening economic partnerships with key allies including the United States and the European Union to secure vital supply chains. The Republic of Korea is committed to fostering supply chain stability as a crucial element for economic resilience and Global competitiveness through diversification and technological innovation International cooperation and sustainable practices are ROK aims to build resilient Supply chains that could weather future disruptions. By working collaboratively with Global Partners, Korea strives to ensure that its supply chain remains robust and adapted in an ever-evolving Global landscape.
Works Cited
Kim, Dongsoo, et al. “A Study of Supply Chains of Korean Firms in China Based on Business Survey Data.” SSRN Electronic Journal, 2021, https://doi.org/10.2139/ssrn.4190942. Accessed 15 Nov. 2024.
KUMAR, RAJIV. “The Supply Chain Diversification and India–South Korea Cooperation in a Contested East Asia in the Post-COVID-19 Era.” The Journal of Indian and Asian Studies, vol. 02, no. 02, July 2021, https://doi.org/10.1142/s2717541321400076.
Om, Kiyong, et al. “Using Supply Chain Management to Enhance Industry—University Collaborations in IT Higher Education in Korea.” Scientometrics, vol. 71, no. 3, June 2007, pp. 455–71, https://doi.org/10.1007/s11192-007-1690-3. Accessed 14 Nov. 2024.
Park, Byung In, and Hokey Min. “Global Supply Chain Barriers of Foreign Subsidiaries: The Case of Korean Expatriate Manufacturers in China.” International Journal of Services and Operations Management, vol. 14, no. 1, 2013, p. 67, https://doi.org/10.1504/ijsom.2013.050562. Accessed 16 Nov. 2024.
