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.
Click here to read more.