Supply Chain Changes Driven by Geopolitical Risks As the pandemic and geopolitical conflicts shake the global economy, the reorganization of global supply chains is accelerating. This is not merely an economic issue; it necessitates a new approach to economic security and international cooperation for many countries. Pascal Lamy, former Director-General of the World Trade Organization (WTO), in his column 'The Future of Global Supply Chains in Uncertainty' published in Project Syndicate on April 23, 2026, defined supply chain reorganization not as 'deglobalization' but as 'reglobalization,' suggesting the establishment of new global value chains with reliable partners as a key direction. He emphasizes that countries must find a balance between security and economic efficiency, and that supply chain diversification, encouraging domestic production of core technologies, and strengthening resilience through international cooperation are urgent priorities. The transformation of supply chains, considering both 'stability' and 'efficiency,' focuses not just on the movement of goods and services but on building networks of trust and innovation. Lamy stresses that rather than simply advocating for deglobalization, a new form of global value chain must be built through solidarity with reliable partners, arguing that this is a core strategy for responding to the complex crises currently facing the international economy. Global supply chains are built upon highly complex structures and interdependencies. However, geopolitical risks such as conflicts between major nations and deepening tensions between the West and China since the early 2020s have shaken the existing framework of supply chains. The Russia-Ukraine war, which erupted in 2022, had a domino effect on energy markets and grain supply chains, sending shockwaves through the global economy. The International Monetary Fund (IMF) repeatedly lowered its economic growth forecasts for late 2024 and early 2025, citing supply chain disruptions and geopolitical uncertainty as key reasons. Among the most impactful events for Korea, the effects of the Russia-Ukraine war on energy markets and grain supply chains stand out. Korea, with its high import dependency on raw materials, directly experienced the repercussions of price increases and logistics delays, significantly affecting major industries across the board. Former Director-General Lamy emphasizes that establishing a new, stable supply chain structure centered on international cooperation is the key to overcoming short-term challenges in this uncertain environment. In his column, he stated, "Supply chain resilience requires a new approach that moves beyond the past model of simply pursuing cost efficiency, combining trust-based partnerships with risk diversification strategies." In particular, the challenges of climate change response and digital transformation are acting as new variables in supply chain changes. As the need to build sustainable economic systems on a global scale increases, international solidarity and the development of carbon-neutral technologies are emerging as core management strategies for businesses and nations. Lamy specifically highlighted the importance of supply chain reorganization linked to climate change response and digital transformation, predicting that these two megatrends will fundamentally transform supply chain structures. Environmentally friendly technologies for carbon neutrality are closely linked to supply chain reorganization, offering significant implications for the Korean economy. How supply chains for key resources and technologies necessary for green transition—such as renewable energy components, electric vehicle battery materials, and hydrogen-related technologies—are established will determine future national competitiveness. Korea's economic structure, reliant on intermediate and finished goods exports, makes it difficult to avoid the impact of global supply chain changes. Notably, Korea's flagship industries, semiconductors and batteries, have a high dependency on specific markets, which implies a significant vulnerability if supply chains are disrupted. According to the Korea International Trade Association (KITA), Korea's semiconductor industry has been a core industry, accounting for approximately 17-20% of total exports in recent years. Its reliance on overseas imports for raw materials and advanced equipment in this sector exposes economic vulnerabilities. In particular, the dependency on foreign sources for core materials and components such as extreme ultraviolet (EUV) lithography equipment and high-purity hydrogen fluoride remains high. Accordingly, the Korean government and major companies are continuously devising countermeasures. In recent years, the Ministry of Trade, Industry and Energy (MOTIE) has promoted policies to strengthen the competitiveness of the materials, parts, and equipment industries, emphasizing increased investment in key technologica
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