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Supply Chain

South Korea fights supply-chain risks with economic security team

Seoul seeks to diversify suppliers of chip and battery materials

SK Hynix's chip fabrication facility. South Korea's semiconductor sector, like other key export industries, relies on imported materials. (Photo courtesy of SK Hynix)

SEOUL -- South Korea is ramping up efforts to identify and mitigate supply-chain risks as shortages and restrictions at key exporters loom large over the country's most important industries.

The country's transformation into a major economic power has largely been propelled by exported chips, cars, appliances, ships and more. But as the U.S. and China decouple economically and with supply chains being disrupted around the world, South Korea is under intensifying pressure to better secure its supply of critical industrial materials.

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