SEOUL, April 28 (Yonhap) — The industry ministry held an inaugural public-private trade security dialogue Tuesday with executives from major semiconductor, artificial intelligence (AI) and quantum companies to discuss ways to respond to myriad global challenges facing the key industries.
The Ministry of Trade, Industry and Resources discussed the semiconductor export control trend in the United States, China’s recent announcement of supply chain management regulations and other trade security issues with representatives from 10 companies in the three sectors, ministry officials said.
The ministry said it has launched the trade security dialogue as part of efforts to help the private industry navigate through strengthening trade security measures by major economies, including the U.S., China and the European Union, amid the intensifying global tech war.
“For the government to effectively formulate and implement trade security policies, in-depth communication with businesses is needed,” Yang Ghi-wuk, deputy minister for trade, industry and resource security, said, vowing efforts to help Korean industries maintain their competitiveness amid recent shifts in global trade order.
The ministry plans to establish hotlines with different business associations to help with the response to trade security issues by end-June and continue communications with major industries, including machinery, robotics and automobiles, the officials said.
The Ministry of Trade, Industry and Resources headquartered in the central city of Sejong (Yonhap)
nyway@yna.co.kr
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