SEOUL, A U.S.-led Indo-Pacific agreement on supply chains went into effect in South Korea, Seoul's trade ministry said Wednesday. The Indo-Pacific Economic Framework (IPEF) was launched by U.S. President Joe Biden in 2022, involving 14 member nations, including South Korea, the United States and Japan. "The government plans to come up with measures to utilize the IPEF, as the country needs a policy that supports the industrial supply chain," Trade Minister Cheong In-kyo told a meeting with corporate executives. The IPEF has four pillars -- trade, supply chain resilience, a clean economy and a fair economy -- and they reached an agreement on the supply chain resilience pillar last year. It marked the first multilateral agreement participated in by South Korea regarding global supply chain issues. Source: Yonhap News Agency
Indo-Pacific deal on supply chains takes effect in S. Korea
Recent Posts
Thailand-Brunei expands cooperation in all dimensions.
April 29, 2024
I believe the cabinet adjustment will not escalate.
April 29, 2024
The Prime Minister called several ministers to meet.
April 29, 2024
Related News
Giant catfish weighing more than 10 kg in the sanctuary.
April 30, 2024
(LEAD) Industrial output falls by most in 4 years in March
April 30, 2024
Gov’t to open 10 trails near DMZ for visitors next month
April 30, 2024