COVID-19 is reshaping Korean manufacturers’ value chains

Many Korean manufacturers are anticipating changes to global value chains as COVID-19 continues to impact businesses worldwide.

A new survey by the Korea Chamber of Commerce and Industry (KCCI) found that 41.7% of companies are experiencing changes in their value chains and 27.3% are expecting future changes. Seventy two percent of respondents attributed the reorganisation of global value chains to COVID-19 and they also noted the impact of US-China trade tensions.

“The reshaping is accelerating in the wake of COVID-19 after a gradual change based on China’s economic growth, increasing trade protectionism, Industry 4.0, etc.,” the KCCI explained.

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Australia Korea Business Council
PO Box 24430
Melbourne, Vic 3001 Australia
Liz Griffin – Executive Director

The Australia-Korea Business Council is the leading national body committed to strengthening the Australia-Korea economic relationship.