Abstract
Recent geopolitical crises and the Covid-19 pandemic have
exposed weaknesses in global supply chains, leading to
disruptions in the flow of goods and creating shortages. The
semiconductor shortage crisis between 2020-2021 exacerbated
these issues, particularly affecting industries reliant on chips.
This crisis prompted governments and industries to prioritise
resilience and independence in supply chains. This paper
examines the causes, effects and implications of the supply
chain crisis, focusing on the economic relations between the
EU and South Korea. Both parties recognise the importance
of addressing supply chain vulnerabilities and have initiated
collaborative efforts to strengthen critical industries like
batteries and semiconductors. Moving forward, strategic
collaboration between the EU and South Korea will be crucial
for effectively addressing the supply chain crisis. Measures
such as enhancing supply chain resilience, investing in
research and development and fostering technological
cooperation are essential for ensuring economic stability and
navigating future challenges.
exposed weaknesses in global supply chains, leading to
disruptions in the flow of goods and creating shortages. The
semiconductor shortage crisis between 2020-2021 exacerbated
these issues, particularly affecting industries reliant on chips.
This crisis prompted governments and industries to prioritise
resilience and independence in supply chains. This paper
examines the causes, effects and implications of the supply
chain crisis, focusing on the economic relations between the
EU and South Korea. Both parties recognise the importance
of addressing supply chain vulnerabilities and have initiated
collaborative efforts to strengthen critical industries like
batteries and semiconductors. Moving forward, strategic
collaboration between the EU and South Korea will be crucial
for effectively addressing the supply chain crisis. Measures
such as enhancing supply chain resilience, investing in
research and development and fostering technological
cooperation are essential for ensuring economic stability and
navigating future challenges.
| Original language | English |
|---|---|
| Publisher | Istituto Affari Internazionali |
| Number of pages | 19 |
| ISBN (Print) | 978-88-9368-339-5 |
| Publication status | Published - 22-Jun-2024 |
Publication series
| Name | IAI Papers |
|---|---|
| Publisher | Istituto Affari Internazionali |
| No. | 22 |
| Volume | 24 |
| ISSN (Print) | 2610-9603 |